AUD advances to 0.9401 against the USD - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that AUD/USD rose to 0.9401on Friday, unable however to break above this level.

Key quotes

"Technically, the hourly chart shows a slightly positive tone, with momentum heading north in positive territory and price above a flat 20 SMA, while RSI turns lower in overbought territory."

"In the 4 hours chart the overall stance is also bullish, with strong resistance now around 0.9410."

"Only above this last the pair will be able to extend its rally, up to 0.9450/60 price zone, and as long as 0.9370 contains the downside."