AUDUSD looks Bullish this week
**Monthly Chart**
AUDUSD monthly chart shows that price is in a large range since Oct 2022. This month candle (still not closed) looks bullish indicating a move higher towards breaking the range highs and testing at least 0.7000 (round number) level.
**Weekly Chart**
Last week candle closed bearish after breaking the relatively equal highs at around 66400 level the previous week and moved back into the range. There is a high expectation that we will be seeing a continuation of this move higher at least to test 0.69000 level and break the higher range. Any pullback will be a good opportunity for another push up.
**Daily Chart**
After breaking the relative equal highs on daily chart, the directional bias is still bullish and first target to break above 0.6700 level towards the next target to test the high at around 0.69000 level. I will be looking for a retracement with a good risk to reward setup to take this trade long.
On Wednesday 29th May. there will be AUD CPI news which might create this move.
AUDUSD monthly chart shows that price is in a large range since Oct 2022. This month candle (still not closed) looks bullish indicating a move higher towards breaking the range highs and testing at least 0.7000 (round number) level.
**Weekly Chart**
Last week candle closed bearish after breaking the relatively equal highs at around 66400 level the previous week and moved back into the range. There is a high expectation that we will be seeing a continuation of this move higher at least to test 0.69000 level and break the higher range. Any pullback will be a good opportunity for another push up.
**Daily Chart**
After breaking the relative equal highs on daily chart, the directional bias is still bullish and first target to break above 0.6700 level towards the next target to test the high at around 0.69000 level. I will be looking for a retracement with a good risk to reward setup to take this trade long.
On Wednesday 29th May. there will be AUD CPI news which might create this move.
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