FOREX Chart Of The Day: AUDUSD Reversal To Point Of Interest?

The AUDUSD price is trending higher currently which could offer long opportunities if the price was to reverse and retest at a point of interest.

Watch the video to learn more…

AUDUSD Analysis

The AUDUSD price is one our watch list this week as the strength meter showed the Australian Dollar as the weakest currency and the USD is the strongest. This could see the AUDUSD bearish weekly trend continue however when the currencies are in a reversal zone we can often see short term reversal in the price. 

Going into the profiles we can see from the weekly profiles on the left hand side the price has broken out of last week’s profile and value area high which can often see a retest before seeing more upside to the market. If however the price was to trade back into last week’s value area we could see the price trade back to last week’s point of control before seeing the market continue its trend higher. If however the price finds support at this current weekly value area high we could see the uptrend continue if the price can break above the key 0.7100. A break above the current highs around 0.7130 the price could move quickly through this area to the highs around 0.7260.

Did you see our recent EURUSD analysis video? You can watch it here.

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About The Author

Jonathan Kibbler

Jon Kibbler, our Senior Market Analyst, boasts over a decade of trading experience. He specializes in dissecting the intricacies of financial markets and sharing his expertise with precision. Jon’s insights have been featured at renowned events and platforms like Coindex, Forex Analytix, and Forex.com.

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