AUD/USD Holds Above 100-day EMAAUSTRALIAN DOLLAR / U.S. DOLLARFX_IDC:AUDUSDCityIndexWhile the Aussie saw two-way volatility last week and a narrow open-to-close range between Tuesday and Friday, my bias remains bullish with scope for a move towards the 0.6580 high. Risk reversals point to limited downside for AUD/USD on the options market. The pair also posted four consecutive daily closes above the 100-day EMA, with prices attempting to hold above the 20-day EMA. Monday’s strong bullish candle set the tone for the current range, and Thursday’s spinning-top doji highlights demand sitting just above the 200-day EMA. The one-hour chart shows volumes rising during Friday’s rally but fading during the pullback, suggesting the move lower lacks real bearish intent. If AUD/USD can hold above the September low, the oversold hourly RSI(2) supports a bounce towards 0.6550. A break above that level exposes the weekly R1 near the 0.6580 high. Matt Simpson, Market Analyst at City Index.