FX.co ★ AUD/USD: upside continuation

AUD/USD Uptrend!

The AUD/USD pair registered a strong upside movement in the short term signaling strong buyers. Now, it has retreated a little after reaching 0.6924. This level stands as an upside obstacle.

On the other hand, the 0.6891 former high and the uptrend line represent downside obstacles. As long as it stays above these levels, AUD/USD could resume its growth, the uptrend.

AUD/USD Trading Conclusion!

Staying above the uptrend line and jumping and stabilizing above the 0.6924 immediate high could announce further growth towards new highs. This scenario helps the buyers to buy this pair again.