The Australian Dollar (AUD) is looking to break free from its recent slump against the US Dollar (USD). Recent price action suggests a potential long opportunity, with external liquidity providing support at the bottom of the consolidation zone.
Here's why the AUD/USD might be ready to charge:
External Liquidity Boost: Fresh inflows of capital are entering the market, potentially buoying the AUD. This external support could act as a springboard for a breakout.
Consolidation Breakout: The AUD/USD has been consolidating for some time, forming a well-defined range. A clean break above this range, especially with increased volume, could signal the start of a new uptrend.
Long-Term Target: The original consolidation zone, once broken, could act as a potential profit target for long positions.
Remember: This is for informational purposes only and should not be considered financial advice. Always conduct your own research before making any trading decisions.
Stay tuned: We'll keep an eye on the AUD/USD and provide further updates if the breakout confirms.
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