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.

Ross J Burland FXStreet

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:

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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