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Forex

AUD/USD Price Soars After Breakout Above June High

Guavy AI Editorial Team
Instruments
AUD
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The AUD/USD price action indicates that the uptrend has resumed after the pair reclaimed its 100-day Simple Moving Average (SMA) at 0.7969.

A breakout above the June 4 daily high of 0.7149 opened the door for further gains, with bullish momentum indicated by the Relative Strength Index (RSI).

The path of least resistance is now tilted to the upside, as bulls pile in search of higher prices.

The AUD/USD's first supply zone is the May 29 high of 0.7200, which if breached would clear the path to challenge the year-to-date (YTD) high of 0.7227.

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