FX.co - AUD/USD Update for October 08, 2021 - Bullish divergence and potential for the bigger rally

2021-11-08T12:30:35

Relevance until2021-11-09

Technical analysis:

AUD/USD Update for October 08, 2021 - Bullish divergence and potential for the bigger rally

AUD/USD has been trading sideways at thee price of 0,7405 and there is potential for the breakout.

Trading recommendation:

Due to bullish divergence in the background and the consolidation in last 24 hours, there is potential for the bigger rally.

My advice is to watch for buying opportunities on the breakout of contraction with the objective at 0,7460.

Key support is set at the price of 0,7360

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ AUD/USD Update for October 08, 2021 - Bullish divergence and potential for the bigger rally