Buyers may be building for a squeeze on the sellers and a run higher

Potential Buy Entry Alert to Watch AUDUSD

Time Frame : Daily

Sector : Currency

AUDUSD – Australian Dollar Spot

The AUDUSD is starting to show signs of holding some major support for a push higher but it is still early days yet. A few factors still need to play out for the Aussie to get a head of steam and move higher to target 0.7210 and really put the squeeze on the shorts that have built up on the selloff. If we continue to see the weakness come into the USD then expect to see the action heat up. Watching now for a extended move up to confirm that break and then to see how buyers deal with the first pullback and whether they build the higher low for entry. On the radar as this could be a serious squeeze set to play out.

Stock Code : AUDUSD – Australian Dollar Spot

Current Price : 0.7070

Status : On watch for potential higher low and push up through 0.7210