The Australian Dollar has is down more-than 0.3% in opposition to the US Dollar for the reason that begin of the week with Aussie
The Australian Dollar has is down more-than 0.3% in opposition to the US Dollar for the reason that begin of the week with Aussie now testing month-to-month uptrend help. These are the up to date targets and invalidation ranges that matter on the AUD/USD worth charts. Review my latest Weekly Strategy Webinar for an in-depth breakdown of this Sterling worth setup and extra.
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Australian Greenback Worth Chart – AUD/USD Every day
Chart Ready by Michael Boutros, Technical Strategist; AUD/USD on Tradingview
Technical Outlook: In my newest Australian Dollar Price Outlook we famous that Aussie was approaching confluence resistance and to, “be looking out for potential exhaustion right here however we’ll broadly favor fading weak point whereas above 6768…” AUD/USD reversed of confluence resistance at 6880 early within the week with the pullback now eyeing uptrend help on the 61.8% retracement close to the 68-handle -note the highlighted trendline confluence simply decrease. Key resistance regular at 6880 with a breach / shut above wanted to gas the following leg greater in worth focusing on 6927.
Australian Greenback Worth Chart – AUD/USD 120min
Notes: A better take a look at Aussie worth motion exhibits AUD/USD buying and selling throughout the confines of a near-term ascending pitchfork formation extending off the month-to-month lows with worth…