FX.co ★ AUD/USD

AUDUSD Short-Term Outlook: This analysis examines the price movement of the AUD/USD pair. My analysis suggests that this pair is expected to be in an uptrend in the medium term. Today's market started without any major surprises, and the price has been gradually rising throughout the Asian session. However, a price correction is likely to occur. I will be closely watching how buyers take advantage of the current uptrend. Around this resistance level, the situation could unfold in two ways. The first scenario is the formation of a reversal candlestick, which could lead to a resumption of the downtrend as part of the correction. If this scenario is likely, I will wait for the price to return to the support level of 0.71499. If the price settles below this support level, I expect it to fall further towards the support level of 0.69345.

Around this support level, I expect there will be trading opportunities that will help determine the direction of future trades. Another scenario for price movement is that the price holds above the resistance level of 0.72659, leading to a further rise. In this case, I expect the price to move towards the resistance line of 0.73884. Around this level, we will be closely watching for trading signals to determine the future direction of trading. However, as the price moves towards its upward target, a downward correction is possible, in which case we will look for bullish signals from the recent support level. In conclusion, we expect an upward movement today. In this case, we will carefully monitor the recent resistance level and make decisions based on the trading situation.