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AUD/USD Maintaining Bullish Technical Conditions

The 4H AUD/USD chart shows a market that rallied from the lows around 0.9210 in May to about 0.9445 to start this week. After falling to 0.9360, the market was testing a rising speedline. The poor US data gave way to broad USD-weakness, and helped AUD/USD bounce off of this support, keeping a bullish technical outlook. The RSI also held for the most part above 40, also a sign that the bullish momentum in June is still in play. 


(audusd 4h chart, 6/25)

The daily chart shows the 2014-high just above, at 0.9460. With the bullish technical conditions held in the 4H chart, the AUD/USD looks poised to test this resistance, a break above which can open up the 0.9540 resistance in the near-term.


(audusd daily chart, 6/25)