AUD/USD Price Analysis: Bulls eye a break into the 0.67s
|- AUD/USD bulls are in the market with the 0.67s eyed.
- AUD/USD is taking on a key resistance area.
The Australian Dollar edged higher and continued to correct from the four-month lows as a rescue package for First Republic Bank eased market concerns.
AUD/USD remains on the backside of the prior bear trend and breaking out as the following illustrates:
AUD/USD daily chart
With below 0.6900, the outlook is bearish but a correction is playing out.
H1 chart
The bulls stepped in again on the correction in resistance which leaves a bullish bias for the open for an additional test in the 0.67s.
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