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AUD/USD Extends Bullish Offensive

With the pair strengthening further on Wednesday and following through on Thursday, it looks to move higher to the 0.7400 level and beyond. On the downside, support resides at the 0.7300 level where a breach will aim at the 0.7250 level. Below that level will set the stage for a run at the 0.7200 level, with a cut through here targeting further downside pressure towards the 0.7150 level.

On the upside, resistance lies at the 0.7400 level. A cut through here will turn attention to the 0.7450 level and then the 0.7500 level, where a violation will set the stage for a retarget of the 0.7550 level.

On the whole, AUD/USD remains biased to the upside.

AUD/USD Daily Chart

AUD/USD Daily Chart

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