FX.co ★ AUD/USD Update for July 13, 2022 - Potetnial for the bigger rally

Technical analysis:

AUD./USD has been trading upside today and I see potential for the further rally. The trend for the day is bullish.

Trading recommendation:

Due to the higher highs and higher lows on hourly and potential for tests of upper references, I see upside scenario.

Watch for buying opportunities on the intraday dips with the upside objectives at 0.6860 and 0.6890.

MACD is showing momentum expansion to the upside, which is good confirmation for the further rally.

Key support is set at the price of 0.6715