The last time we looked at AUD/USD on April 26, we supposed a corrective decline into the support area between 0.6490 to 0.6786. This area is now being tested and we could see a corrective low anytime now. To confirm that a corrective low is in place, we need to see a break above minor resistance at 0.7137 which would call for a new rally towards the S/H/S bottom neckline at 0.8040. A break above here will activate the bottom formation for a continuation higher to the 1.0255 target.
Relevance up to 06:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
