FX.co ★ AUD/USD: upside continuation

AUD/USD Strong Buyers!

The AUD/USD pair resumed its growth and now is trading at 0.6608 at the time of writing. As you can see on the H1 chart, the rate tested and retested the uptrend line which represents a downside obstacle.

As long as it stays above the uptrend line, the price could approach and reach new highs. Technically, the former high of 0.6607 represents a static upside obstacle.

AUD/USD Trading Conclusion!

Jumping and stabilizing above 0.6607 activates further growth. This could represent a buying opportunity.