AUD/USD Price Analysis: Bulls take control and on track to hunt down 0.7050
Posted On July 26, 2022
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- AUD/USD bulls have taken control in Asia along a daily trendline support.
- The hourly broadening formation points to a move higher also.
AUD/USD has spiked in the Asian trade and eyes are on a move higher from both a daily and hourly perspective. The following illustrates the bullish trajectory from a bullish bias within the daily and hourly charts.
AUD/USD daily chart
From a daily perspective, the bulls have their eyes on a move beyond the recent highs towards the 0.7050 mark as the price climbs the trendline support.
AUD/USD H1 chart
The broadening formation on the hourly chart leaves the upside trendline resistance exposed and vulnerable as well prior to a move lower within the confines of the shorter-term pattern.