Forex

AUD / USD worth evaluation: bounces off session low however nonetheless undecided

  • AUD / USD is gaining after hitting session low of 0.7410 in Asia.
  • Signs of indecision on the daily chart make Tuesday close crucial.

AUD / USD has rallied from session low of 0.7410 to 0.7427. However, the pair is still trapped in the 0.7454-0.7372 range on Monday.

The Aussie saw a two-way deal on Monday and ended the day with minor losses making a daily candle with long wicks and small body. This is a sign of indecision in the market.

The immediate bias remains neutral as long as the pair trades between Monday's high and low. A break above 0.7454 (Monday's high) would mark a bullish continuation and expose the 0.75 psychological hurdle. Alternatively, a move below 0.7372 Monday lows would confirm a short-term bearish reversal and open the doors to a notable retreat.

Daily chart

Trend: Neutral

Technical levels

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