AUD/USD continues its unstoppable rise
Updated
Hello everyone! Today AUD/USD is holding gains above 0.6400.
Looking at the technical picture of AUD/USD on the 1-hour chart, we can see that the pair is in an expected short-term uptrend. That means we have to stick to the script and aim higher. If that happens a break of resistance would open the door for further upside, targeting 0.6470. Can invite many buyers to join the market.
Conversely, if the pair falls below 0.6420 then a test of 0.6400 is likely and the next level to watch is support at 0.6390. A break below this support could expose the monthly low.
Looking at the technical picture of AUD/USD on the 1-hour chart, we can see that the pair is in an expected short-term uptrend. That means we have to stick to the script and aim higher. If that happens a break of resistance would open the door for further upside, targeting 0.6470. Can invite many buyers to join the market.
Conversely, if the pair falls below 0.6420 then a test of 0.6400 is likely and the next level to watch is support at 0.6390. A break below this support could expose the monthly low.
Note
Audusd continues to shine today when maintaining a significant increase and is currently trading at 0.645.
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