FX.co ★ AUDUSD remains inside bullish channel targeting 0.7150

AUDUSD remains in a bullish trend as price continues to make higher highs and higher lows. AUDUSD has so far respected the bullish channel it started back early April. Price is now targeting the upper channel boundary around 0.7150.

Blue lines - bullish channel

AUDUSD is ready to make a new higher high towards 0.7150. Support remains key at the lower channel boundary around 0.6770. As long as price is above that level, bulls remain in control of the trend. The RSI has so far not provided us with a bearish divergence and that is one of the key reasons why we expect new highs for AUDUSD