AUDUSD runs higher & is breaking out in the process. Can buyers keep the momentum going? ...Middle East

The AUDUSD has been trading mostly between 0.6573 and 0.67134 going back to early May. This week, the price rope to the upside reaching the highest level since early January. Today, the price corrected lower upheld sport against the old highs near 0.6708/0.6713. The price broke higher. The price corrected down to retest the break point. The price rotated higher. That is bullish.Going forward, staying above 0.6708 keeps the buyers in firm control (close risk and bias defining level). However, If the price falls back below that level, there is likely to be disappointment in the failed break higher. Look for a rotation back down (it is the risk for buyers now) The next target comes in at 0.6

Hence then, the article about audusd runs higher is breaking out in the process can buyers keep the momentum going was published today ( Friday 05/07/2024 - 07:08 PM ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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