AUD/USD Gains Momentum but Will It Last ?!
The Australian dollar has recently performed positively against the U.S. dollar, despite the U.S. dollar losing around 1.45% in the past few days. This decline came even after positive inflation data, as the annual Consumer Price Index (CPI) in the U.S. rose to 3.0%, marking its highest reading in seven months.
Today's daily close for AUD/USD will determine the bullish momentum for the upcoming week. If the daily candle closes above 0.63296, the bullish trend remains intact.
In this scenario, a pullback to 0.61429 could present a buying opportunity to resume the upward move toward 0.62853. However, this outlook will be invalidated if the price drops below 0.60872 and records a daily close beneath this level.
Today's daily close for AUD/USD will determine the bullish momentum for the upcoming week. If the daily candle closes above 0.63296, the bullish trend remains intact.
In this scenario, a pullback to 0.61429 could present a buying opportunity to resume the upward move toward 0.62853. However, this outlook will be invalidated if the price drops below 0.60872 and records a daily close beneath this level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.