In a case where the Aussie pair remains firmer past 0.6760, the December 2022 peak surrounding 0.6890, quickly followed by the 0.6900 threshold, could challenge the AUD/USD bulls before giving them control.
On the contrary, a downside break of the immediate fortnight-long support line, close to 0.6660 at the latest, isn’t an open invitation to the bears as multiple levels marked in the last four months around 0.6640-30, can challenge the sellers.
It’s worth noting that a downward-sloping previous resistance line from February 02, now support around 0.6575, acts as the last defense of the AUD/USD pair buyers, a break of which could drag the quote towards 2022 bottom surrounding 0.6160.
Overall, AUD/USD remains on the bear’s radar unless providing a clear upside break of 0.6900.
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