AUD/USD: bulls committing above 100 dma 0.7457.

AUD/USD has risen again in the US shift, off the lows 0.7521 to highs of  0.7543, back to 0.7527 and a recent pop higher again supported at the 50 sma on the 1hr sticks to 0.7533.

The sentiment around the Aussie is political, with the Coalition that finally secured 74 seats (majority needed is 76). However, the ongoing vote count hints that the LNP will get 76 although still not absolutely confirmed.  "The fact that the weekend saw Labor concede and PM Turnbull gave a victory speech speaks volumes," explained analysts at TD Securities. 

AUD/USD levels

AUD/USD last week sold off to and recovered from the 55 day ma at 0.7397 and now targets the 0.7630 high that should offer tough resistance. On the downside the price could re-target the 200 day ma at 0.7303 ahead of 0.7253 being the 2016 support line while the major reversal target is located at 0.7146 being the May low. The dialy sticks are positive above 100dma at 0.7457.