AUDUSD Gains Traction for the Third Day in a Row Near the 0.7571 Level
Login

AUDUSD Gains Traction for the Third Day in a Row Near the 0.7571 Level

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

AUDUSD Price Analysis – December 11

AUDUSD upside rally furthers on its positive fundamentals registering fresh highs at 0.7571 level and continued scaling higher for the third day in a row on Friday. Australia’s key export item has risen to the all-time high as AUDUSD follows suit while reaching a fresh high beyond 0.7500, currently up 0.32% to 0.7571 level.

Key Levels
Resistance Levels: 0.7635, 0.7620, 0.7571
Support Levels: 0.7484, 0.7436, 0.7340
AUDUSD Long-term Trend: Bullish
As you can see from the day, AUDUSD appears to have entered a bullish consolidation cycle and hovered around 0.7500-71, reaching new highs. However, the RSI overbought condition is pushing bulls back to the 0.7500 levels, but any further decline will be met near the 0.7484 level.

However, AUDUSD may have to contend with a 38.2% retracement from 1.1079 (high) to 0.5506 (low) at 0.7620 levels, strongly indicating the end of the long-term downtrend from 1.1079. Otherwise, the current rebound from the 0.5506 level may still be a correction of the long-term trend.
AUDUSD Short-term Trend: Bullish
In the short term, AUDUSD accelerates to 0.7571 and the intraday bias remains in place. The current rally from the 0.5506 level could target the key long-term 0.7620 level. In the short term, buying long positions above the level of 0.7520 with targets at 0.7580 and 0.7620 in the long term may be a likely scenario.

However, a permanent breakout could confirm a long-term trend reversal. On the other hand, a break of the minor support at 0.7484 could change the neutral intraday sentiment and lead to consolidation ahead of another rally.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News