AUDUSD ! The market is bullish. Rising after a pullback😼

٩ أغسطس ٢٠٢٢

AUDUSD is trading in an upward price channel. It is also worth paying attention to the change in trend, on July 18 the bearish channel was broken and the price is confidently moving upwards.

I added two trend lines MA50 and 200 to the chart, which will help determine the market sentiment and strong support and resistance zones more accurately.

The price after updating the local top rolls back to the support of the price channel, I assume that from the support zone we can see the recovery of the national currency of Australia. Short-term target is strong resistance at 0.70354, medium-term target under favorable conditions is resistance at 0.71385.

Regards R.Linda!