FX.co ★ AUD/USD retests buyers

AUD/USD Exhausted Buyers?

The currency pair turned to the upside again and now is located at 0.6559 at the time of writing. As long as it stays above the uptrend line, the rate could resume its growth. The higher high of 0.6586 represents an upside obstacle.

On the other hand, the former low of 0.6532 and the uptrend line represent downside obstacles.

AUD/USD Trading Conclusion!

Jumping above the former high of 0.6586 activates further growth.

Dropping below the former low activates a downside movement.