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HomeCurrenciesAUD/USD Encounters Firm Resistance Amidst Bullish Outlook

AUD/USD Encounters Firm Resistance Amidst Bullish Outlook

The AUD/USD pair displayed a bearish bounce after reaching the anticipated target at 0.6780, nearing the 0.6700 level. However, the price has initiated a new bullish trajectory at the beginning of today’s session, signaling a potential continuation of the bullish trend in the upcoming sessions.

It’s noteworthy that breaking the mentioned level could extend the bullish wave, targeting 0.6840, followed by 0.6925.

Hence, the bullish trend scenario remains valid unless a breach of 0.6735 occurs and is sustained below this level.

The projected trading range for today is expected between the support at 0.6720 and resistance at 0.6800.

Today’s Trend: Bullish