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AUD/USD Price Surpasses Resistance – Forecast for July 5, 2024

by Jennifer

AUD/USD Price Analysis

Expected Scenario

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The AUD/USD pair began today positively by breaching the $0.6728 level and attempting to hold above it, reinforcing the expectation of a continued bullish trend on both the intraday and short-term basis. This movement sets the stage for additional gains, potentially reaching $0.6800.

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Supporting Factors

The EMA50 (Exponential Moving Average) continues to support the suggested bullish wave. However, if the price fails to consolidate above $0.6728, it may come under negative pressure, possibly pushing it down to $0.6640 before any new positive attempt.

Expected Trading Range

The anticipated trading range for AUD/USD today is between the $0.6690 support level and the $0.6790 resistance level.

Trend Forecast

The trend forecast for AUD/USD remains bullish.

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