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AUD/USD jumps to 0.9815

FXstreet.com (San Francisco) - The AUD/USD is currently trading higher after bouncing at the 0.9750 support. The pair rose 65 pips in the latest few minutes to break above the 0.9800 and test 0.9815.

Pricing now at 0.9805, the AUD/USD is 0.05% negative on the day. However, the pair is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as CCI and Momentum are pointing to the north while the MACD is neutral and the Stochastic is bearish.

According to the UBS Research Team, “Any upside in the AUD/USD will be correction, unwinding the overextended downside conditions. Resistance is at 0.9831 ahead of 0.9918. The broader focus is for a test of major support at 0.9582, supporting a bearish outlook.”

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