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AUD/USD rejects the 0.9840 and trades back around 0.9800

FXstreet.com (San Francisco) - After climbing around 90 pips from the 0.9750 to break above the 0.9800 and test the intra-week high at 0.9840, the AUD/USD has been rejected by this level and currently it’s trading around 0.9810 area.

In this way, the AUD/USD seems to be confirming range between 0.9750, May 20 and 21 lows, and 0.9840, intra-day highs. However, the short term perspective is strongly bullish according to the FXstreet.com trend index in the 15-minute chart. Indicators such as MACD, CCI and Momentum are pointing bullish while the Stochastic is neutral.

Above 0.9840, Aussie's next resistances are at 0.9855 and 0.9915. On the downside, supports are at 0.9750, 0.9710 and 0.9700.

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