FX.co ★ torp.paris | AUD/USD

Hello traders, The currency pair AUD/USD continues to move within an upward trend and a bullish channel. Moving averages indicate a short-term uptrend. Prices have broken through the area between the signal lines upwards, indicating buying pressure on the currency pair and a potential continuation of the instrument's price decline from current levels. At the moment, we should expect an attempt to develop a bearish correction and test the support area near the level of 0.7035. Next, a price rebound upwards and a continuation of the quote's rise towards the area above the level of 0.7345. A scenario reversal with the rise of AUD/USD quotes will be a price drop and a breakthrough of the level of 0.6885. This will indicate a breakthrough of the support area and a continuation of the decline of the currency pair AUD/USD with a potential target below the level of 0.6545. Confirmation of the pair's rise should be expected with a breakthrough of the resistance area and a closing of quotes above the level of 0.7125. The forecast for AUD/USD suggests an attempt to test the support level near the area of 0.7035. Next, a continuation of the pair's quote rise above the level of 0.7345. A reversal of the scenario with growth will be a decline in AUD/USD quotes and a breakthrough of the area of 0.6885. This will indicate a continuation of the decline in quotes with a potential target below the level of 0.6545.