AUD/USD Price Analysis: Bulls are trying to pull away with eyes set on the 0.7000s – by fx_ross AUDUSD Technical Analysis
The price has been carving out a broadening formation and should the bulls commit, then there is room to go to the upside for theHowever, the weekly chart's W-formation is worth noting as a potential hindrance with the 50% mean reversion level aligning with the neckline of the pattern. For the open, the bulls could well emerge from the presumed support base and the confluence of the 50% mean reversion area and a prior hourly high/resistance.
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