AUD/USD Bulls or Bears? Price testing important Level
AUD/USD is in a Bullish wave after the March'20 crash. So far, the bullish wave is showing no signs of slowing down.
But, now, AUD/USD has reached a key level which is important for both Bulls and Bears.
If bulls can take out the 0.6670 level easily then the path of least resistance is to the upside till 0.70
However, if the buyers fail here then AUD/USD can drop to 0.65 again. Traders' reaction at that area will determine whether the next wave will be Bullish or Bearish.
But, now, AUD/USD has reached a key level which is important for both Bulls and Bears.
If bulls can take out the 0.6670 level easily then the path of least resistance is to the upside till 0.70
However, if the buyers fail here then AUD/USD can drop to 0.65 again. Traders' reaction at that area will determine whether the next wave will be Bullish or Bearish.
Comment:
As expected, bulls have broken the 0.6670 level and now price is firmly above 0.68
