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- AUD/USD Price Analysis: Bulls looking for a break to test 0.7180 H4 resistance
AUD/USD Price Analysis: Bulls looking for a break to test 0.7180 H4 resistance
- AUD/USD bulls are on the move with eyes on 0.7180.
- The 0.7300 target will be next in range as bulls take control.
As per the prior analysis at the start of the week, AUD/USD Price Analysis: Bears testing bullish commitments at critical support, AUD/USD bears indeed took on the bulls, but only momentarily.
The following illustrates a bullish perspective as the fundamentals tides turn in favour of the upside, at least from a meanwhile risk-on perspective.
AUD/USD prior analysis
AUD/USD live market, daily chart
As illustrated, the bears did move in but the price is back to stabilising around the 61.8% ratio on Tuesday. This leaves prospects of a bullish continuation on the cards for the rest of the week and the foreseeable future.
AUD/USD H4 chart
AUD/USD is breaking to the upside with the price now above H4 21-EMA which is an encouraging development for the bulls. Eyes will be on 0.7180s and then 0.73 the figure as a critical milestone in the pursuit of a higher daily high.
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