AUD/USD Technical Analysis: searching for 0.7250 in risk-on markets

• The past twenty-four hours sees the AUD/USD holding above the 0.7200 key handle heading into the US mid-term election results window, and broader market sentiment remains pinned to the risk-on side, and the Aussie is catching support in the near-term from yesterday's peaks at the 0.7200 critical level.

AUD/USD M5

• Hourly candles see the Aussie picking up firmer support from the 38.2% Fibo retracement level at 0.7185, with the 50-hour EMA providing an intraday floor from 0.7215.

AUD/USD H1

• The past month sees the Aussie setting up for a potential move higher, with the 50- and 200-period moving averages making a bullish crossover and staging a new near-term support level from 0.7150.

AUD/USD H4