FX.co ★ AUD/USD

Hello traders, when looking at the AUD/USD pair, we can see a clear technical progression from the lower boundary of the trading range at 0.6993 according to Envelopes indicators. Yesterday, we entered the buying zone by managing to hold above the levels of 0.7046 - 0.7067, thus confirming the uptrend and transitioning into a phase where it's not just a pullback from a decline, but a shift towards a bullish trend. Today, the AUD/USD pair is showing a pullback right to the mentioned support zone, trading at a price of 0.7068. I believe that the AUD/USD pair has a good potential for further price growth today, with the target for this increase being the resistance formed by two levels at 0.7114 - 0.7135.