HomeContributorsTechnical AnalysisAUDUSD Bull Pressure Builds Up Towards 0.7337/81 Zone

AUDUSD Bull Pressure Builds Up Towards 0.7337/81 Zone

AUDUSD bull pressure bulls up towards 0.7337/81 zone as more strength is expected. On the upside, resistance lies at the 1.7400 level. A turn above here will shift attention to the 0.7450 level and then the 0.7500 level. A violation will set the stage for a retarget of the 0.7550 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support is seen at the 0.7300 level where a breach will aim at the 0.7250 level. Below here will set the stage for a run at the 0.7200 level with a cut through here targeting further downside pressure towards the 0.7150 level. On the whole, AUDUSD faces further upside pressure with eyes its resistance zone at 0.7381.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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