AUD/USD Price Analysis: Bulls eye 0.7150

AUD/USD is making its way through critical volumes towards 0.7025 breakout territory.
Bulls are moving in on resistance in solid correction.

Ross J Burland FXStreet

AUD/USD has been correcting in the wake of a positive risk environment this week. The pair is now loving in on critical resistance, piecing it in recent trade. This would now be expected to act as support for the forthcoming sessions.

AUD/USD H1 chart

The bulls are engaging in this area and will likely push for a test to the midpoint of the 0.71 area. If this is broken, then 0.7180 will be the next likely target.

With that being said, the daily chart illustrates that there is a level of resistance here that could see the price rejected from.

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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