FX.co ★ Aimee | AUD/USD

Technical analysis 21 Agust 2026 AUD/USD H-1

The AUD/USD 1-hour chart shows a strong bullish recovery after a deep retracement, with the price currently testing the key horizontal resistance level around 0.7125–0.7130. 1. Market Structure and Trend * Price Action: After swinging higher near 0.7130 on August 17, the price returned to the downtrend zone near 0.7065 on August 18-19. A powerful bullish move on August 19 took the price to previous highs. * Moving Average (EMA): The price is trading above the moving support line, maintaining a clear short-term bullish slope. * Double Top Risk: The price is testing the exact high where selling pressure first emerged. Failure to break the high could lead to a double top formation. 2. Technical Indicators * RSI (14): Currently reading 67.29, approaching the overbought zone (70.00). While momentum favors buyers, caution is warranted near key resistance. * MACD and Bears Indicator: The MACD histogram and signal line have moved upwards, confirming bullish momentum. The Bears Power Indicator remains positive, indicating continued buyer control. 3. Point-to-point trading scenarios. Scenario A: Bullish breakout (continued) * Trigger: A clear H1 candle closes above 0.7135 (confirming breakout above immediate resistance). * Entry point: Buy with a stop at 0.7138 or on a pullback to 0.7128 after confirmation. * Stop Loss (SL): 0.7095 (below moving average and minor structure). * Take Profit (TP1): 0.7170 * Take Profit (TP2): 0.7200 * Risk/Reward Ratio: ~1:2+ Scenario B: Resistance Reaction (Short Trade) * Trigger: Strong rejection pattern at 0.7125–0.7130 (e.g., bearish pin bar or engulfing candle). * Entry Point: Sell at 0.7115 after rejection confirmation. * Stop Loss (SL): 0.7145 (above recent swing high). * Take Profit (TP1): 0.7080 (near moving EMA support). * Take Profit (TP2): 0.7065 (support floor). * Risk/Reward Ratio: ~1:2.3 Key Takeaway Wait for price to settle around 0.7125–0.7130. Don’t enter before a breakout or rejection signal; let the candle determine its direction.