AUD/USD bulls need the pair to recover above 6910 to maintain the buy signal

Buyers has the potential to lift the pair towards Friday’s swing high, around the 0.6935-40 region, before bulls eventually aim towards the key 0.70 psychological mark.

AUD/USD bulls need the pair to recover above 6910 to maintain the buy signal. A break above the October/November 6928/29 high acts as a further buy signal targeting 6940, 6965/70 & 7010/20.

The last line of defence for bulls is the 6885/75 support which just held on Friday. Longs need stops below 6860. A break lower signals sideways direction for the pair going forward for weeks, possibly months.

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16 Dec 2019 6:36 pm Posted by admin