FX.co ★ AUD/USD: reversal only above 0.6375

AUD/USD: Sellers Still In Game!

The AUD/USD pair is trading at 0.6358 at the time of writing. As you can see on the H1 chart, the rate stands right below the downtrend line. As long as it stays below it, the rate could drop again.

In the short term, it's trapped between 0.6375 and 0.6347 levels. Escaping from this minor range could bring us new opportunities.

AUD/USD Trading Conclusion!

Jumping and stabilizing above the former high of 0.6375 activates a larger growth. This could help the buyers to catch a larger growth.

Staying below the downtrend line and dropping under 0.6347 validates a new sell-off towards 0.6291.