AUDUSD RSI DIVERGENCE

The announcement of this 90-day cooling-off period has given risk assets a healthy push higher, while the Australian dollar - a proxy for Chinese trade - has also pushed higher, continuing its recent rally. On the daily chart the Australian dollar is getting short-term support against the US dollar from the 200-day moving average which it is now trading back above for the first time since April. The RSI indicator suggests the pair are becoming overbought, while there is a zone of resistance between 0.7484 and 0.7529.