AUD/USD: Australian dollar breaks through 0.72330 resistance
|AUD/USD: Australian dollar breaks through 0.72330 resistance
What is going on now with AUD/USD?
AUD/USD: The Australian dollar failed in its attempt to break out at 0.72330 in yesterdays session and fell to 0.72075 support as indicated in yesterday's update. The pair has been progressively pushing prices up through an uptrend channel in the 60 minutes price chart with higher highs and higher lows and could continue to the upside if it maintains the current trend
Our forecast
AUD/USD: The Australian dollar has broken the resistance level at 0.72330 and currently trades at 0.72362 in the 60 minutes price chart. The pair could continue to its next target at 0.72488 if it remains above 0.72330 support.
Support/short target - 0.72330, 0.72230, 0.72170, 0.72075
Resistance/Long Target -0.72530, 0.72605, 0.72775
Chart 1: The short-term view of the AUD/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the AUD/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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