AUDUSD: Bullish Outlook Explained

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD is currently in a long-term uptrend. After reaching a level of 0.664, the market pulled back to a trend line that is moving upwards.

The pair was able to break through an important daily resistance area. The broken structure, along with the major rising trend line, now form a contracting demand zone, which is where the next upward movement is expected to start.

To consider buying, look for a confluence zone that includes a rising trend line and a broken resistance level.

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