AUD/USD has increased as expected after jumping the 0.7327 high acting as resistance. Now the pair has jumped above the 0.7400 psychological level but has failed to stabilize above it signaling exhausted buyers.
The outlook is bullish despite the current drop. Another rally, growth, and stabilization above the 0.74 and above the most recent high suggests that AUD/USD will continue to increase in the upcoming period.
- AUD/USD Trading Conclusion
Let's say that we may have a good buying opportunity if AUD/USD jumps above the 0.7410 level. The next upside major target could be at the 0.75 level.
