AUD/USD has moved sideways lately signaling that the rate is trying more energy before resuming its upside movement. You can see that it has stayed near the 0.7327 resistance and now it has managed to pass above it signaling more gains.
The higher highs and higher lows suggest that AUD/USD is into an uptrend and that the swing higher could continue after the temporary consolidation.
- AUD/USD Trading Conclusion
The price has jumped above the previous highs signaling that we may have a long opportunity. Still, if you want to be certain that the rate will continue higher, maybe you should wait until it reaches the 0.7340 level before buying AUD/USD.
The 0.7400 could be used as a first upside target, around an important higher high.
