AUD/USD Technical Review
📈 *Bullish Breakout Ahead?*
The AUD/USD daily chart indicates a potential **bullish reversal**, with price action bouncing off key support zones and forming an upward trendline. Here are some key observations:
🔹 **Support Levels**: The pair is holding above the **0.6269 - 0.6220** support zone, which has been tested multiple times.
🔹 **Trendline Support**: A rising trendline suggests buyers are stepping in at higher levels.
🔹 **Resistance Targets**: The next major resistance zones are at **0.6680 - 0.6696** and **0.6846**, aligning with previous supply areas.
🔹 **Moving Average Influence**: The 50-day MA is being tested, and a clean break above it could fuel further upside.
💡 **Bullish Scenario**: If price remains above **0.6269**, we could see a rally toward **0.6600+** in the coming weeks.
⚠️ **Bearish Risk**: A breakdown below **0.6207** could invalidate this bullish bias.
📊 **Overall Sentiment: Cautiously Bullish 🚀**
What are your thoughts? Will AUD/USD hit **0.66+** soon? Drop your analysis below! ⬇️🔥
The AUD/USD daily chart indicates a potential **bullish reversal**, with price action bouncing off key support zones and forming an upward trendline. Here are some key observations:
🔹 **Support Levels**: The pair is holding above the **0.6269 - 0.6220** support zone, which has been tested multiple times.
🔹 **Trendline Support**: A rising trendline suggests buyers are stepping in at higher levels.
🔹 **Resistance Targets**: The next major resistance zones are at **0.6680 - 0.6696** and **0.6846**, aligning with previous supply areas.
🔹 **Moving Average Influence**: The 50-day MA is being tested, and a clean break above it could fuel further upside.
💡 **Bullish Scenario**: If price remains above **0.6269**, we could see a rally toward **0.6600+** in the coming weeks.
⚠️ **Bearish Risk**: A breakdown below **0.6207** could invalidate this bullish bias.
📊 **Overall Sentiment: Cautiously Bullish 🚀**
What are your thoughts? Will AUD/USD hit **0.66+** soon? Drop your analysis below! ⬇️🔥
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.