AUD/USD Price Analysis: Bears take on bulls at key support
|- AUD/USD bears are in the market and eye a test of trendline support.
- Bulls committing at the current market structure.
The Australian Dollars has been buoyant at the start of the week as the US Dollar continued its retreat amid bets that US interest rates might have peaked, This has seen the price action move deeper into resistance as the following will illustrate:
The 4-hour chart shows the price on the front side of the bullish trend with a structure located at around 0.6780. The hourly charts show the price meeting support with resistance near 0.6790.
If the resistance holds, the trend support will likely come under pressure.
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