The AUD/USD pair has been trending upwards since the 18th of November 2015, with the bulls leading the price from as low as 0.7068 to as high as 0.7249.
During the course of the session today, the pair advanced from 0.7148 up to 0.7249. Taking into consideration that there is significant resistance above the level of 0.7249, the pair could be forced to break lower. In the event that the price breaks below 0.7184, profit targets could be set at 0.7159 and 0.7138 in extension.
Conversely, in the scenario where the price manages to break above 0.7249, the pair could escalate up to 0.7305.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.