AUD/USD Below 0.7216 Upside Obstacle!
The AUD/USD pair is trading at 0.7206 level at the time of writing. The price failed to come back to test and retest the uptrend line signaling strong upside pressure. Technically, as long as it stays above the uptrend line, AUD/USD could resume its upwards movement.
0.7216 former high represents a static upside obstacle. Jumping and stabilizing above this level could validate an upside continuation. As you already know from my previous analyses, the breakout above the downtrend line may announce an upside reversal.
AUD/USD Trading Conclusion!
The currency pair tries to consolidate its gains right below 0.7216 upside obstacle signaling an imminent breakout above this level. Passing and stabilizing above the 0.7216 level could activate an upside continuation and could bring new buying opportunities.
