FX.co ★ Technical review for AUD/USD: price will continue to increase

AUD/USD is rising, thanks to positive sentiment in markets, growing commodity prices and weakening demand for dollar.

Technical picture:

The quote is above the upper line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is above 50% and is indicating a slowdown in the price increase, while the stochastic indicator is entering the overbought zone.

Possible dynamics:

A consolidation above 0.7130 may lead to a local growth to 0.7225.