FX.co ★ AUD/USD attracts more buyers

AUD/USD Range Pattern!

The AUD/USD pair climbed as much as 0.6530 today, registering a new high. This stands as an upside obstacle. On the other hand, the former low of 0.6491 represents a downside obstacle. In the short term, it's trapped between these levels. Only escaping from this pattern could bring us new opportunities.

AUD/USD Trading Conclusion!

As long as it stays above the former low of 0.6491, the AUD/USD pair could resume its growth. Still, only jumping above the former high activates further growth.

On the contrary, dropping below the former low activates a deeper drop.