[m.youssif]

AUDUSD Forecast
The AUDUSD had a bullish momentum yesterday, topped at 1.0549 and closed at 1.0543. The bias remains bullish in nearest term testing 1.0581. A clear break above that area could trigger further upside momentum targeting new all time high projection around 1.0700. However, as you can see on my h1 chart below, the rising wedge formation is still a threat to the current bullish outlook. A clear break below the wedge and 1.0500 – 1.0450 support area could trigger downside pullback testing 1.0330 area.

[m.youssif]

AUDUSD Forecast
The AUDUSD had a bullish momentum yesterday, topped at 1.0549 and closed at 1.0543. The bias remains bullish in nearest term testing 1.0581. A clear break above that area could trigger further upside momentum targeting new all time high projection around 1.0700. However, as you can see on my h1 chart below, the rising wedge formation is still a threat to the current bullish outlook. A clear break below the wedge and 1.0500 – 1.0450 support area could trigger downside pullback testing 1.0330 area.