-
Australian Dollar Price Outlook: AUD/USD Recovery Faces First Test
The Australian Dollar rallied nearly 1.7% against the US Dollar from the monthly lows with price now targeting a major pivot zone. While the immediate advance may be vulnerable the broader picture remains constructive heading into Australian employment data later tonight. These are the updated targets and invalidation levels that matter on the AUD/USD charts. Technical Outlook: AUD/USD has posted 3.2% monthly opening-range with price turning just pips from yearly open support at 7042 last week. The advance is now approaching a critical resistance zone at 7175-7200 where the 50% & 61.8% retracement of the ... (full story)