AUDUSD ! A rising trend inside the range. What's the target?🙀

29 de jul. de 2022

AUDUSD is forming a local uptrend after a false breakdown of the lower range boundary. The price has been between the boundary at 0.72516 and 0.68292 for a long time, which indicates that there is an equal power between the players, I think that the price will not leave this range anytime soon.

On the chart we can see the resistance retest at 0.6993 and break up, since the local trend is upward, so wait for the price to consolidate above the level of 0.69930, which is already playing the role of support.

I assume that in the near future we might see price growth. The key factor for the growth will be the consolidation above the level of 0.6993 in the long zone. The medium-term target is the resistance level of 0.717.

Regards R. Linda!