AUD/USD Price Analysis: Bulls are taking charge at critical daily resistance
|- AUD/USD bulls are moving in on critical daily resistance.
- The bears are lurking for a discount and lower lows ahead in the bearish cycle.
As per the start of the week's pre-open analysis, AUD/USD Price Analysis: Pre-open glance on daily chart eyes prospects for a downside continuation, the price is moving in the direction of the 0.7050 target as follows:
AUD/USD daily charts, prior analysis
AUD/USD, live update
The first objective and the test of 0.6967 28 Jan lows as per the structure illustrated above is underway.
Thereafter, the 0.7050s will still be eyed. If bulls commit at either of these levels, it could be all downhill from thereon:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.