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According to Fox News: The latest round of US strikes against Iran is larger than last nights operation. US and Bahraini forces shot down nine Iranian drones that were heading towards US forces in Bahrain.According to the Islamic Republic of Iran Broadcasting (IRIB): Several shells struck a village on Qeshm Island.On June 28, U.S. Central Command issued a statement saying that on June 27, under the command of the Commander-in-Chief, U.S. Central Command forces conducted additional strikes against multiple Iranian targets. Following yesterdays U.S. strikes against Iran in response to its attack on the cargo ship "M/V EverLovely," Iran had an opportunity to uphold the ceasefire agreement, but its forces launched a one-way attack drone strike this morning (4:30 AM ET on Saturday), hitting and destroying the oil tanker "M/T Kiku." The Panamanian-flagged tanker was sailing near the Strait of Hormuz at the time, carrying more than two million barrels of crude oil. Today, U.S. Central Command forces responded to Irans continued attacks on merchant ships, with U.S. warplanes striking Iranian military surveillance facilities, communication systems, air defense sites, drone storage facilities, and mine-laying capabilities. Merchant ships continue to transit the Strait of Hormuz. The U.S. military remains vigilant and ready to respond.June 28 - The United States launched a military strike against Iran on June 27 local time.June 28 - Neuberger portfolio manager Joseph Purtell said, "In the short term, the dollar is likely to remain strong due to rising US real interest rates." He believes the dollar is poised to break out of its six- to nine-month range, but added that in the long term, the dollar may weaken given structural issues such as the fiscal sustainability of the US government.

AUD/USD Price Analysis: Bull Flag Breakout Requires a Retest to Near 0.7550

Larissa Barlow

Apr 06, 2022 10:02

  • The Australian bulls have gained strength as the RSI (14) has moved into a bullish zone of 60.00-80.00.

  • A re-test of the bullish flag formation will present market participants with an opportunity to buy at a discount.

  • The advance of the 20- and 50-EMAs bolsters the upside filters.

 

The AUD/USD pair has seen a meteoric rise after breaching the April 4 high of 0.7557, which has pushed the pair north, with the asset printing a new nine-month high of 0.7662 on Wednesday. Aussie bulls have been optimistic since March's lows of 0.7165. The pair has broken out of its consolidation phase, which was contained inside the range 0.7455-0.7541.

 

On a four-hour chart, AUD/USD is producing a bullish flag pattern, which indicates sideways movement following a strong run to the north and indicates the possibility of a new impulsive wave if consolidation breaks out firmly. Typically, a consolidation period is characterized by the placement of bids by investors who did not participate in the early surge and by those investors who choose to enter an auction after a bullish bias develops.

 

The increasing 20- and 50-period Exponential Moving Averages (EMAs) at 0.7550 and 0.7514, respectively, amplify the upside filters.

 

Meanwhile, the Relative Strength Index RSI (14) has shifted from 40.00-60.00 to a bullish range of 60.00-80.00, indicating a firmer upward advance in the near term.

 

A retest of the bullish upper boundary flag at 0.7541 will attract large buys from investors, propelling the pair toward Wednesday's high of 0.7662, followed by the 11 June 2021 high of 0.7776.

 

The greenback bulls, on the other hand, can regain power if the asset falls below the March 29 low of 0.7455, dragging it towards the March 10 high of 0.7369. If the latter is breached, the asset will continue to fall towards the round level support at 0.7300.

Four-Hour AUD/USD Chart

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