AUD/USD is trading 0.14% higher on Thursday. The price broke out of the chart pattern but failed to capitalise on the move. AUD/USD 4-hour chart AUD/USD has been consolidating since 10th June after going on a great run. Now the price has broken out of the triangle pattern the bulls failed to gather any real momentum to push higher. There are some resistance levels to look out for on the upside at 0.6975 and then the high on the chart at 0.7064. There is always the potential that the price action does not conform to the chart pattern and moves sideways for a while. Look out for a retest of the top of the pattern as this occurs often after a pattern break. The indicators are still looking bullish, the MACD histogram is still in the green and the signal lines are also positive above the midpoint. The Relative Strength Index is also above the 50 line but there is still room to move toward the overbought area. Overall AUD/USD has been on quite a run since hitting a low of 0.5508 on 19th March 2020. The key zone on the higher timeframes continues to be the 0.70 psychological level. If the bulls can retake that zone then the bull run looks set to continue. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: XAU/USD bears seeking justice below key support FX Street 3 years AUD/USD is trading 0.14% higher on Thursday. The price broke out of the chart pattern but failed to capitalise on the move. AUD/USD 4-hour chart AUD/USD has been consolidating since 10th June after going on a great run. Now the price has broken out of the triangle pattern the bulls failed to gather any real momentum to push higher. There are some resistance levels to look out for on the upside at 0.6975 and then the high on the chart at 0.7064. There is always the potential that the price action does not conform to the chart pattern and moves… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
