AUD/USD is bullish so further growth is somehow expected as long as the Dollar Index stands in the seller’s territory. The greenback has taken a hit from the US economic data yesterday, so USD is still bearish despite temporary rebounds. It’s traded at 0.7489 level at the moment of writing, below 0.7504 today’s high.
Also, as you already know, the RBA Minutes came in hawkish in yesterday’s session, that’s why the Aussie is still very strong. Personally, I’m still looking for long opportunities, but I need strong confirmation before taking action.
AUD/USD Technical Analysis!
AUD/USD jumped and closed far above 0.7478 level after a first false breakout through this upside obstacle. It has also managed to take out the dynamic resistance represented by the first warning line (wl1) of the ascending pitchfork.
Making a new higher high, a bullish closure above the 0.7504 today’s high could activate further growth.Personally, I would like to see a temporary consolidation above the broken levels before jumping higher.
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