AUD/USD - AUD/USD Rose and Profit Locked - 11/01/2016 (GMT)

The AUD/USD pair moved higher after the rate decision following the strong rebound on the 0.7560 support level which coincides with the ascending trend line which is holding since January. The pair plunged more than 0.7% and reached our suggested target at 0.7650 (see technical analysis here: http://bit.ly/2f4AAyt).

Technically, the commodity pair surpassed the latter level and is moving towards the 0.7710 resistance level. On the 4-hour chart, the price is trading well above the three SMAs (50-SMA, 100-SMA and 200-SMA) endorsing the bullish attitude. Technical indicators are moving in a positive territory and are sloping upwards. The MACD oscillator has just entered the bullish area and lies above its trigger line. Also, the RSI indicator is approaching the 70 level with strong momentum.