AUD/USD Faces Rejection at 100-day SMA Near 0.7050, Bullish Outlook Intact
The Australian dollar retreats from a fresh high near 0.7050 after encountering resistance at the 100-day simple moving average, though the broader bullish bias remains intact.
AUDUSD
The AUD/USD pair edged lower after testing the 100-day SMA around the 0.7050 handle, marking its highest level since June 17. The technical rejection triggered a modest pullback, but the overall uptrend appears unbroken. Analysts note that the bullish bias persists as long as the pair holds above key support levels.
Source: FXStreet Forex News