The secondary trend of AUDUSD is sideways on charts. In its daily chart, the pair is sustaining above the trend line after giving breakout of double bottom pattern. Prices are consolidating with strong positive bias and its 50 DMA is also providing support to the prices for further up-trend. If it breaks its resistance level of 0.7380 & sustains above it then it is expected to show further bullish movement in next few days.
In RSI: Prices are sustaining in the buying territory above 55 level, supporting the up side movement in the market.
STRATEGY:- AUDUSD is looking bullish on charts for next few session. One can go for buy on lower level strategy for this pair for intra day to mid term positions.
Is the purple line an SMA?
yes, it is SMA