AUD/USD hits resistance at 0.6370

Recommended Broker

AUD/USD Analysis – Symmetrical Broadening Wedge

The AUD/USD shows the formation of a symmetrical broadening wedge pattern. The emergence of an inverted head and shoulders within this wedge indicates bullish price action. The price has hit the resistance at $0.6370 and is now consolidating back to the neckline of the inverted head and shoulders at around $0.6305. This price correction offers another buying opportunity toward the $0.6370 level.

---