13.07.202213:25 Forex Analysis & Reviews: AUD/USD Update for July 13, 2022 - Potetnial for the bigger rally

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical analysis:

AUD./USD has been trading upside today and I see potential for the further rally. The trend for the day is bullish.

Trading recommendation:

Due to the higher highs and higher lows on hourly and potential for tests of upper references, I see upside scenario.

Watch for buying opportunities on the intraday dips with the upside objectives at 0.6860 and 0.6890.

MACD is showing momentum expansion to the upside, which is good confirmation for the further rally.

Key support is set at the price of 0.6715

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.