The US macro data today
drove the attention of market participants and caused considerable volatility.
As a result the US dollar was under pressure, mostly against the
higher-yielding currencies.
The AUD/USD pair bounced from the support located at $0.7407 and pushed slightly
above the psychological level at $0.75. The intraday development was mastered by
the bulls and the pair marked the daily high at $0.7519.
In short-term perspective is seen triangle pattern, which is in process of
forming within the next few days. Bulls are targeting the last turning point of
the triangle at the resistance located at $0.754, as seen on the H4 chart. The last
support turning point is located the daily support at $0.7407. So in long-term
we may expect continuation of the bullish trend.
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