FX.co ★ AUD/USD Reverses!

AUD/USD jumped higher after failing to reach and retest the downtrend line and 0.7305 former low. It approached 0.7403 level which was seen as an upside obstacle in the past. Technically, making a new higher high, jumping above 0.7419 level could signal further growth.

Escaping from the down channel, AUD/USD has signaled that it could turn to the upside as the downside movement is over.

Trading Conclusion!

Jumping above 0.7419 and beyond the 0.7420 level could really indicate that AUD/USD will resume its growth in the upcoming period.