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20.05.202211:45 Forex Analysis & Reviews: Technical review for AUD/USD: price may increase, but will be limited

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AUD/USD is trying to recover on the back of growing demand for risky assets and news from China about the decision of the central bank to reduce a key lending benchmark. The decrease in US Treasury yields also put pressure on the dollar, pushing the pair to further growth.

technical picture:

The quote is currently above the middle line of the Bollinger indicator, above the SMA 5 and SMA 14. The relative strength index (RSI) is also above 50% and indicates a possible rebound, while the stochastic indicator is still on the decline.

Possible dynamics:

A rise and consolidation above 0.7065 is likely to lead to a local increase to 0.7165.

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