AUD/USD 4hr analysis
Overview : AUD/USD has started recovering after a strong fall and is now holding above the 0.6840 support level. The recent price action shows buyers stepping in, forming a base and pushing price higher toward 0.7060, which supports a short-term bullish outlook.
Biasness AUD/USD remains bullish as rising inflation from oil prices supports further rate hikes by the Reserve Bank of Australia. if the US Consumer Price Index weakens the USD, the pair can move higher.
Key Levels: R1: 0.7100 R2: 0.7145
S1: 0.6840 S2:0.6760
Hina Malik
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