As proven within the chart, AUD/USD pair appears to become presently pinned inside a climbing down funnel, within this situation denoted through the (small climbing down funnel) above, which required the happy couple outdoors of the major climbing funnel at the end of April. The happy couple has since unsuccessful to rally to the primary funnel and appears set to carry on buying and selling inside the small funnel in the future broker review
As a result, traders is going to be searching at short-term bullish possibilities while keeping medium difficulty bearish outlook.
Again, both short-term targets (R1) at .7550 and .7600 are confirmed around the daily chart in the 4-hourly chart. .7800 (R2) xm no deposit bonus also continues to be the primary intermediate target if the pair keep up with the current rebound.
So when we consider the bearish targets, .7450 at (S1) also holds as the primary support in the .7400 zone looks clearer now. However, when the AUD/USD pair ended up being to hit .7400 within the next couple of days, it might be the very first time it's done that since June this past year. So, it might too be considered a new 12-month low when it takes place thinking about it's May, already.
In conclusion, the AUD/USD currency pair appears poised for any short-term move upwards, however this may not last lengthy because the intermediate momentum is viewed using the pair downwards no deposit bonus forex