AUD/USD Ignored 0.7179 Upside Obstacle!
The AUD/USD pair was trading at 0.7199 at the time of writing and it seems strong enough to climb towards new highs. The price could jump higher as long as it stays above the uptrend line.
As you can see on the H4 chart, the AUD/USD pair passed above the 0.7179 historical level (former low) which represented an upside obstacle signaling strong buyers and potential further growth.
AUD/USD Trading Conclusion!
Passing above 0.7179 indicates more gains toward the 0.7259 former high, which is a potential upside target. A minor consolidation, a sideways movement above 0.7179 could bring new buying opportunities.
Only dropping below the uptrend line may signal that the upside movement ended and that the rate could develop a new drop.
