The AUD/USD currency pair is currently showing signs of further upside potential. This bullish outlook is supported by a rising trendline and broad-based weakness in the U.S. Dollar against major currencies.
Technical confirmation also comes from the presence of a swing low and a double bottom pattern, both of which are strong signals for a continued bullish move in the short term.
As long as the price holds above the key support zone, the bullish momentum is expected to persist.
Recommendation:
- Buy AUD/USD
- Entry: 0.65850
- Take Profit 1: 0.66150
- Take Profit 2: 0.66450
- Stop Loss: 0.65550
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