AUD/USD Price Analysis: Bears are moving in and eye a break of structure AUDUSD Technical Analysis
, we have seen the initial balance continue to run higher, a touch above the 0.7020 stop hunt area into 0.7039 so far.forex
The following illustrates the prospects for a downside correction in AUD/USD should all of the stars align this week, considering the red news scheduled on both the Aussie and USAs per the above's pre-market analysis, the initial balance for the week was on track for scoring territory into the price imbalances:
However, if the downside thesis from that point is going to gather momentum, the US Dollar needs to make its move.The bulls are attempting to commit and 102.25 will be a key milestone if they can breach the level and get over the trendline resistance. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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