AUD/USD - AUD/USD Ready to Meet 0.7735 Level - 10/26/2016 (GMT)

The AUD/USD pair surged more than 1.2% since Monday and surpassed above the 0.7650 – 0.7660 strong barrier which was a significant level for the traders. Also, the commodity pair is developing in an ascending move since January and failed several times to break the uptrend line to the downside.

Currently, the price is moving towards the previous 2-month high at 0.7735 and is establishing above the three SMAs on the short and medium-term charts. From a technical point of view, the technical indicators seem to be in agreement with the bullish thought, since both, are moving near the overbought areas. The RSI indicator lies slightly below the 70 level while the MACD oscillator holds above its zero and trigger lines.