- AUD/USD remains on the front side of the daily trendline with the 0.6900s eyed.
- FOMC minutes help the bulls out and keep US Dollar on the backfoot.
As per the prior analysis, AUD/USD Price Analysis: Bulls are lurking in daily support, 0.6570/50, the market shot higher from the anticipated support and has reached 0.6738 on the back of some dovish Federal Open Market Committee minutes.
The following illustrates how the price action has opened prospects of a move higher to test 0.6750 and then 0.6850 and 0.6900 for an onward bullish cycle for the rest of the year.
AUD/USD prior analysis
The four-hour chart showed the price meeting the 50% mean reversion of the following daily chart's prior bullish impulse:
AUD/USD update
AUD/USD has moved higher as forecasted and is set to extend the bullish rally while on the front side of the daily trendline with the 0.6900s eyed.
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