Bullish Outlook on AUDUSD - 14 July

14 ביולי 2023

Price is approaching a key resistance zone at 0.6900. A break above upside confirmation, coupled with a retracement to resistance-turned-support at 0.6700, which coincides with the 61.8% fibonacci retracement, could provide bullish acceleration towards next key support-turned-resistance zone at 0.7000, which is in line with 227.2% fibonacci extension. Price is hovering above our ichimoku cloud and 20 EMA, supporting our bullish bias.