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.

Ross J Burland FXStreet

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.

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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