AUD/USD - Edged Gradually Higher - Soared 1.4% So Far - 07/18/2017 (GMT)

The Australian Dollar has been gradually moving higher against the U.S. dollar today and it surged more than 1.4% so far, following the RBA meeting minutes very early in the morning. The strong upward run helped the AUD/USD pair to surpass and break the ascending triangle successfully. Meanwhile, the price printed a new more than two-year high at 0.7905 and the next level to have in mind is the 0.7980 – 0.8010 resistance area which overlaps with the 200-monthly SMA and the 200-weekly SMA.

On the daily timeframe, the 50-SMA created a bullish crossover within the 100 and 200 SMAs indicating buy signal for the traders. There is no obstacle until the aforementioned zone while the technical indicators are also confirming the recent rising attitude. The RSI indicator is sloping to the upside in the overbought zone whilst the MACD oscillator climbed above the trigger line with strong momentum in the positive territory.