AUD/USD keeps a potential for growth

The AUD/USD pair, after attempts to increase optimism regarding the cost of raw materials, formed an upward trend and approached a significant resistance of 0.7200. The psychological level of 0.7200 is a significant resistance for the last three weeks and in fact limits the further strengthening of the pair.

Fixing the AUD/USD pair above 0.7200 will indicate the continuation of the upward trend and the development of the flag pattern. Significant support levels are located at the levels: 0.7180 and 0.7160. Goals and resistance are located at the levels: 0.7250 and 0.7270.

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Hanzenko Anton

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