Technical analysis for the AUD/USD pair is showing that the price formed tweezers bottom on the weekly chart, and breakout above a range, and above the 0.7670 on the 4H chart. The first target of this 4H breakout is at 1.272 FIB extension at 0.7770, the second target is at 1.618 at 0.7820.
If the AUD/USD pair breaks above 0.7850, it will be a signal for resumption of the weekly bullish trend, and it will send the price higher toward, first the previous daily high at 0.8007 and second toward the resistance at 0.8130.
On the other hand, if the AUD/USD pair breaks back below 0.7580, that will be a signal for resumption of the daily bearish trend, and it will send the price lower toward, first the previous daily low at 0.7531, and second toward the 100% FIB extension around 0.7455.
Review our technical analysis for AUD/USD pair for 2021 targets.
4H chart:
Daily chart:
Weekly chart:
