Aussie (AUDUSD) continue the 200-EMA breakthrough Towards 0.7000.

Aussie (AUDUSD) maintains its recovery movements from the previous day at 0.6960.As buyers retain the reins on passing the 200-bar Exponential Moving Average (EMA) during the early hours of Wednesday.

As a result, with bullish indications from the MACD and a slow increase in the RSI (14) line, the Australian dollar pair advances towards a horizontal resistance zone that has existed for two weeks. Despite this, the risk-barometer duo is probably going to get beyond the current obstacle presented by the 0.7000 psychological magnet.

However, a region at 0.7060 with many levels established since January 18 might thereafter provide a problem for AUDUSD purchasers. A run-up towards the round number of 0.7100 and subsequently to the monthly high at 0.7160 can’t be ruled out if the AUDUSD price stays stronger beyond 0.7060.

It should be highlighted that the Australian pair’s successful ascent over 0.7160 may pose a threat to the high above 0.7285 set in June 2022.

In the meanwhile, AUDUSD bears are not secure if they enter the market below the recent lows of the 200-EMA, around 0.6935.The quote’s several bounces off an upward-sloping support line from late December 2022, near to 0.6865 at the earliest, might be the cause.

The monthly low of 0.6855 may then serve as the AUDUSD bulls’ final line of defense after that.