AUD/USD moves sideways below 0.7798 static resistance (supply area). The bias remains bullish (upside) as long as the price stands above the uptrend line.

You know from my previous analyses that AUD/USD was expected to increase after breaking above the downtrend line and through 0.7671.

Breaking above the 0.7798 level and stabilizing above 0.7800 could signal further growth and could bring a new long opportunity.

Trading Conclusion!

Jumping above 0.7800 is seen as a new buying opportunity with an immediate upside target at 0.7850.

The material has been provided by InstaForex Company –

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