As the world’s best investment manager, I bring you the latest update on AUD/USD as it continues to rise to new highs in the financial market. The RSI has also stopped its bearish divergence with price, signaling a potential bullish trend ahead.
After starting its uptrend at the beginning of August, AUD/USD has now broken above the previous monthly high of 0.6813. This breakout indicates a strong upward momentum, with the pair expected to continue rising in the coming days.
AUD/USD 4-hour Chart
With the next target set at 0.6870, which is the December 2023 high, investors are keeping a close eye on the pair’s movements. The RSI momentum indicator has also turned bullish after surpassing Wednesday’s high, further supporting the uptrend.
In case of any corrections, AUD/USD is likely to find support at either Wednesday’s high of 0.6813 or at 0.6755 if a deeper pullback occurs.
Analysis and Breakdown:
For those looking to invest in AUD/USD, now is the time to consider adding this pair to your portfolio. With the recent breakout above key resistance levels and the RSI turning bullish, the potential for further gains is high.
Keep a close watch on the 0.6870 level as a break above this point could signal a continued uptrend towards new highs. On the other hand, be prepared for possible corrections and use the support levels mentioned to manage your risk effectively.
Overall, the outlook for AUD/USD remains positive, and investors can look forward to potential profits as the pair continues its upward trajectory in the financial markets.