AUD/USD Price Analysis: Bulls tiring around 0.7500, eyes to 0.7425
|- AUD/USD bears are lurking around 0.75 the figure.
- 0.7480s guard a breakdown in price towards 0.7425.
AUD/USD is attempting to break higher with 0.75 the figure residing progress. The following illustrates a meanwhile bearish bias from both the daily and hourly chart's perspectives:
AUD/USD daily chart
The daily chart shows that the price is reaching into old daily highs and should the bears move in, then a downside correction would be expected. The prior market structure from the 21st March's business could prove as a target for the bears but offer support with the confluence of the 0.7425 61.8% golden ratio of the current range of the daily bullish impulse.
AUD/USD H1 chart
From an hourly chart's perspective, the bears will need to get below both the horizontal and dynamic support as illustrated above. The 0.7480s are key in this regard.
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