AUD/USD Technical Analysis

• AUD/USD Weekly time frame is bouncing off the supporting trend line
• The AUD is going to go up
• We should see 0.7500 and higher levels hit
• Potential for 0.8000

Weekly CHART AUD/USD

1. Historical buyers
2. Swing high
3. Now moment buyers
4. The final target

The AUD/USD economy looks like its recovering. Citing the source (Forex Live) the Australian National Skills Commission data on the preliminary Internet Vacancy Index (IVI) shows +4.4% in January, +54% on pre-covid levels which is up by 10,918 available positions to 259,027 available positions, which is a 13-year high. There is also speculation that the RBA might raise the interest rate too. The price is facing the support zone and it should be bouncing off. Historical price action repeats the pattern which is bullish. We can see that buyers showed up exactly in the zone. The first weekly timeframe target is the 0.7500 zone. The final target could even be 0.8000. This is the swing trade in progress. We should see the price higher up in upcoming weeks.