AUD/USD Weekly Analysis: Bullish Trend Ahead
AUD/USD WEEKLY SCENARIO
AUD/USD TECHNICAL ANALYSIS: WEEKLY CHART
In the weekly chart, AUD/USD is trading in the down channel.
AUD/USD is currently trading below 20&50 SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 0.65241 & the resistance is at 0.66105
On the weekly chart, the AUD/USD has been fluctuating for a while, but as of right now, we can anticipate seeing a clear trend. On the weekly chart, the price is currently trading above a significant resistance level. If the price maintains this level, the upward potential exists.
AUD/USD TECHNICAL ANALYSIS: DAILY CHART
In the daily chart, AUD/USD is trading in the down channel.
AUD/USD is currently trading below 20&50 SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting an up trend.
Its immediate support is at 0.65690 & the resistance is at 0.66057
After trading within its range, the AUD/USD gave a breakout to the downside on the daily chart, but the breakout was unsuccessful because the price began to reverse upward. Price is currently heading upward, breaking through a key resistance level, and continuing to rise above it. Upward movement may still be potential if the price holds at this level.