AUDUSD: Strong Zone

AUDUSD, Daily

In the Daily Timeframe, AUDUSD started a short-term bullish trend after a long-term decline. The price has reached the critical 61.8 Fibonacci resistance area, and despite the growing bullish sentiment, two scenarios should be considered.

• If the bulls push the price above 0.6680, the upside target will be 0.6760;

• A rebound from the resistance will start the correction to the support at 0.6620;