*AUD/USD – Bullish Consolidation Signals Potential Upside Move
AUD/USD is displaying a bullish recovery after breaking out of a descending channel that previously controlled the downtrend. Following the breakout, price established a series of higher lows, respecting the ascending trendline and confirming a shift in market structure.
The pair is currently consolidating within a defined range above the rising trendline, suggesting accumulation before the next move higher. As long as the uptrend support remains intact, buyers could regain momentum and push the price toward the next resistance level.
🎯 **Target:** **0.71114**
A successful breakout from the highlighted consolidation zone may open the door for a continuation toward the **0.71114** resistance area, aligning with the projected bullish path shown on the chart.
**Key Levels:**
* **Current Price:** 0.70667
* **Bullish Target:** **0.71114**
* **Immediate Support:** Ascending trendline near 0.7050
* **Resistance Zone:** 0.7085 – 0.7111
* **Bias:** **Bullish**, while price remains above the uptrend support line.
The pair is currently consolidating within a defined range above the rising trendline, suggesting accumulation before the next move higher. As long as the uptrend support remains intact, buyers could regain momentum and push the price toward the next resistance level.
🎯 **Target:** **0.71114**
A successful breakout from the highlighted consolidation zone may open the door for a continuation toward the **0.71114** resistance area, aligning with the projected bullish path shown on the chart.
**Key Levels:**
* **Current Price:** 0.70667
* **Bullish Target:** **0.71114**
* **Immediate Support:** Ascending trendline near 0.7050
* **Resistance Zone:** 0.7085 – 0.7111
* **Bias:** **Bullish**, while price remains above the uptrend support line.
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