Overall view of AUDUSD - Update of July 15th's week

The currency pair have consolidated since for 1 month with clear supply and demand levels. After a false breakout on July 9th, AUDUSD reentered back the previous consolidation zone by a bull spike. However a decline of inventories including short-retail traders could display an upcoming bearish pressure since we are close to the support zone.

Possible Targets: @0.70500 (+25 pips)

Advice: Stay bullish and buy any low points while we don't break downside @0.69800 level.

Trade geschlossen: Ziel wurde erreicht:

Target was successfully reached!