AUD/USD: Resistance Barrier and Breakout Opportunity
AUD/USD is steadily climbing on its upward path, with a solid "wall" of support at 0.67365, well "guarded" by the EMA 89 and EMA 34.
However, the biggest "obstacle" lies at the 0.68310 level – if it can't break through, the market might see a strong correction back to support.
But if this level is breached with sufficient momentum, the sky could open up for further gains.
Key factors like interest rates and inflation from the US and Australia will be the "big waves" impacting this trend. This is the time for traders to watch for clear market signals: sell if resistance holds or buy during a strong pullback to support!
However, the biggest "obstacle" lies at the 0.68310 level – if it can't break through, the market might see a strong correction back to support.
But if this level is breached with sufficient momentum, the sky could open up for further gains.
Key factors like interest rates and inflation from the US and Australia will be the "big waves" impacting this trend. This is the time for traders to watch for clear market signals: sell if resistance holds or buy during a strong pullback to support!
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