AUD/USD has been struggling below 0.7750 price area after an impulsive bearish pressure bouncing off the 0.81 area earlier. After the recent worse economic reports of USD got published, AUD gained good momentum which is turning quite unsustainable currently. Recently USD FOMC Meeting Minutes were held where the Budget Balance showed a certain decrease in deficit to -208.7B from the previous figure of -215.2B but failed to meet the expectation of -191.0B as explained by forexalchemy.com
The price is currently residing at the edge of 0.7750 area from where is expected to proceed higher towards 0.7850 in the coming days. Though we can observe certain bullish rejection on the recent daily candles whereas Bullish Continuous Divergence is still in play and expected to help push higher in the future. As the price remains above 0.7550, the bullish bias is expected to continue further.
Last modified on Sunday, 24 June 2018
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