FX.co ★ AUD/USD Upside Continuation Expected!

AUD/USD increases again after retesting the black uptrend line. The decline was expected after failing to stabilize above the 0.7798 level.

The outlook is bullish, AUD/USD could increase further, as long as it stays above the uptrend line. Jumping and stabilizing above the 0.7798 level could signal a larger upside movement in the upcoming period.

Trading Conclusion!

Breaking above 0.7798 and reaching 0.7810 could represent a new buying opportunity with the first upside target at 0.7850 level.

Actually, stabilizing above 0.7798 could signal a further growth towards 0.7900 psychological level.