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  • AUD/USD bulls continue with their northerly trajectory in a strong monthly rally.
  • Bears will be looking for an opportunity to fade the moves across various time frames.

AUD/USD is relentless in its pursuit for blue skies and has recently printed fresh bullish cycle highs of 0.7554, trading some 0.2% up for the Asian session. 

The following is a top-down analysis tracking the pair across multiple longer-term time frames firn which traders can assess for the next swing trading opportunity. 

AUD/USD monthly chart 

The monthly chart shows that the price has extended above the prior breakout structure and will have formed new support at the prior corrective highs.

AUD/USD Weekly chart

The weekly chart offers structure confluence with the 61.8% Fibo of the latest bullish impulse. 

Daily chart

A meanwhile support zone meets the 38.2% Fibonacci retracement from current highs.