FX.co ★ AUD/USD

AUDUSD H1 Chart Review: The interpretation of the AUD/USD price movement in real time is the main topic of discussion. The AUD/USD pair has seen strong increases over the last few days, supporting my long-held belief that it is in a dominant uptrend. The couple has potential for more advances and is still optimistic. The U.S. dollar's surge after yesterday's good retail sales data caused the Australian dollar to see noteworthy gains, but the AUD/USD pair is not anticipated to see any notable falls. However, the Federal Reserve's (Fed) activities today will probably dictate the market's path, and changes in either way are conceivable. Central bank remarks are crucial since interest rate reductions are still unpredictable, particularly with a 0.4 basis point cut anticipated. Even if I'm still bullish, I wouldn't rule out purchasing at 0.69013, even if it doesn't lead to an entrance right away. The recent advance may be releasing liquidity that was amassed at earlier highs because the AUD/USD pair has soared above 0.70100. If my predictions come true, the price can rise above the previous peak and hit a point where there is no more liquidity. In this case, a break below this possible high might result in a downturn and a large reduction in price. This potential situation is shown on the chart by me. This prediction suggests that the pair may first rise to point X above the previous high. We might witness a drop or correction close to 0.69386, where substantial trading volume has built, if this price movement causes liquidity at the highs to dry up.