"AUD/USD Technical Outlook: Strong Breakout Signals More Upside"

8 set

🔹AUD/USD Technical Analysis – Bullish Breakout in Play

1. Breakout Confirmation

Price has broken out of the consolidation zone around 0.6520 – 0.6540, confirming bullish momentum. The breakout occurred with strong bullish candles, indicating buyer dominance.

2. Demand Zone Support

The demand zone (0.6470 – 0.6500) has acted as a strong support area. Previous reactions from this zone show that buyers are defending this level, making it a key base for the current rally.

3. Current Market Position

AUD/USD is currently trading near 0.6590, building momentum after clearing the consolidation zone. The structure now favors higher highs as long as the price holds above the demand zone.

4. Target Levels

▪️First Target Zone: 0.6650 – 0.6680 (short-term bullish objective)

▪️Final Target Area: 0.6740, which aligns with a major resistance level and previous swing high.

5. Bullish Scenario

As long as the price remains above 0.6520, the bullish structure stays intact. Any pullback to the breakout level could provide a buying opportunity for trend continuation.

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11 set

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