- AUD / USD is moving higher after setting a low at 0.7404 at the start of the European session.
- The indecision sign on the daily chart makes Tuesday’s close critical.
AUD / USD is moving higher above the 0.7430 level, recovering from the daily low of 0.7404 set during the Asian session on Tuesday. However, the pair is still trapped within Monday’s trading range of 0.7454 to 0.7372.
The pair underwent good price movements in both directions on Monday and ended the day with marginal losses, forming a daily candle with long wicks and small body. That is a sign of indecision in the market.
The immediate bias will remain neutral as long as the pair moves between Monday’s high and low. A break above 0.7454 (Monday’s high) would imply a bullish continuation and point to the psychological hurdle of 0.75.
On the other hand, a move below Monday’s low of 0.7372 would confirm a short-term bearish turn and open the doors for a notable pullback.
AUD / USD daily chart
AUD / USD technical levels
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