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The AUD/USD pair is trading at 0.6498 at the time of writing and it seems determined to approach and reach new highs. The price action signaled exhausted sellers after failing to approach and reach the 0.6300 psychological level.
Now, it has jumped above the downtrend line which represents an upside obstacle. Stabilizing above it may signal that the downside movement ended and that the buyers could take it higher again.
The former high of 0.6513 represents a key upside obstacle. Jumping and stabilizing above it validates a larger growth.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
