AUD/USD Is Going Up Both Technically and Fundamentally

AUD/USD Technical Analysis

• Bullish pinbars at support
• Move up is expected
• Higher lows and higher highs
• M H3 is the target

1. Low
2. Higher Low
3. Higher High
4. Entry
5. Target

The AUD/USD made a bounce from the lows. This is a technical bounce and it was expected. It was sped up by a positive GDP report. Gross Domestic Product (GDP) gauges the inflation-adjusted value of all goods and services produced within the economy. It is the most comprehensive measure of economic activity and an important indicator of economic health. 0.7100 zone was the entry zone with one more trade added at the retracement. Targets are 0.7170 followed by 0.7205 and 0.7250. if the market makes a close above 0.7250 in the upcoming days, it will open the way to 0.7385.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad