On Thursday, the American dollar fell against all major currency pairs. The referendum in the UK was the focus of our attention. The Australian dollar was supported by the weakness of its American counterpart and rose to a nine-month high.
The instrument was able to set a new local high at the point of 0.7600. The overall outlook remained bullish. The resistance is at 0.7600, the support is at 0.7500.
MACD is in the positive area. The indicator grew that is a sell signal. The indicator RSI bounced from the oversold area. If RSI got into the overbought area that is a buy signal. The oscillator will show a buy signal until it stays above the overbought area. The pair is above the Moving Averages (50, 100 and 200) on the 4 hour chart. The Moving Averages direction is upwards.
The pair is overbought. Nevertheless it can continue its growth. The buyers’ next target is the mark 0.7650.