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AUDUSD Price Resumes Upward Momentum – Forecast for July 11, 2024

by Jennifer

Today, the AUDUSD price has commenced trading on a positive note, distancing itself from the key level of $0.6728. This development reinforces expectations of a sustained bullish trend, with the next targeted station set at $0.6800.

The bullish trajectory is well-defined within a supportive channel, bolstered by the presence of the EMA50, underscoring the importance of maintaining levels above $0.6728 to uphold the anticipated upward movement.

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For today’s trading activities, the projected range is anticipated to fluctuate between support at $0.6720 and resistance at $0.6820.

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Trend Forecast: Bullish

This forecast underscores the AUDUSD’s current bullish sentiment, underpinned by favorable technical indicators and the aim to sustain upward momentum towards targeted levels, contingent upon maintaining crucial support levels.

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