AUD/USD Strong Bullish Move Expected to Continue

Commodity currencies such as the AUD/USD and NZD/USD enjoy bullish flows as the uptrend continues.

The AUD/USD is very bullish. It is making a progress towards 3 month highs and I expect trend to continue. Buying the dips is the best possible scenario. There are 2 POC zones. 0.7295-0.7305 is the first POC zone and 88.6 and D L4 – 0.7263-0.7275 is the 2nd. The target is 0.7327. If the pair doesn’t retrace that low we should see a retest of 0.7340 and continuation up.

For a look at all of today’s economic events, check out our economic calendar.


Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.