AUD/USD Bullish As Long As 0.7400 Holds
|As I have already explained in my previous AUD/USD coverage, the pair is still bullish and as long as 0.7400 holds it should be bought on dips. 0.7410-20 is the POC zone (50.0, W L3, ATR pivot, historical buyers) and targets are 0.7470 and 0.7520. 4h close above 0.7450 suggest a possible bullish continuation. Have in mind that the pair is a bit slow and with an average of 48-50 pips it takes some time for the price to move. For that reason, breakouts (unless we see a momentum spike caused by news or CBs’ action) are neglected and positional trading is suggested.
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