AUD/USD Price Outlook| Currently nearing the weekly resistance
AUD/USD out remains neutral. Despite the pullback from 0.7050 3-4 weeks ago, bears have not been able to pull the price down. Bulls to have failed to break the resistance. Thus, the outlooks remains neutral at this point.
That being said, AUDUSD is in the weekly resistance area. So, it is not a good area to buy or sell. Bulls must wait for a clear break of the resistance before buying. Sellers on the other hand need to wait for some bearish price action before putting any sell orders. Keep an eye on the geopolitical and economic condition as AUD is highly sensitive to fluctuations in the risk sentiment of the market.
That being said, AUDUSD is in the weekly resistance area. So, it is not a good area to buy or sell. Bulls must wait for a clear break of the resistance before buying. Sellers on the other hand need to wait for some bearish price action before putting any sell orders. Keep an eye on the geopolitical and economic condition as AUD is highly sensitive to fluctuations in the risk sentiment of the market.