The AUD/USD has formed a bullish zigzag right in the middle of an uptrend move which could expand even further.
0.7135-45 is the POC zone where we see a strong confluence of both now moment and historical bulls. It is additionally supported by an ascending trendline. Targets are 0.7199 and 0.7228. Have in mind that 1h/4h close is needed above 0.7200 for the price to continue with a bullish momentum. Only a drop below 0.7110 might lead to a pure neutral price action while bears have nothing to look for above 0.7065.
The analysis has been done with the CAMMACD.MTF template.
For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.