If we look at the 4-hour chart, we see that AUD/USD is trying to reach 0.7134 as the first target and 0.7184 as the second target. This scenario has been already confirmed as the price is moving above the Moving Average as the dynamic support level. Besides, the Stochastic Oscillator is already moving above the 20-period moving average (the oversold level). Please pay attention to the 0.7065 level. As long as AUD/USD does not retrace and closes below this level, the upward movement from this pair still safe.
The overall bias of AUD/USD now is bullish.
(Disclaimer)
