18.02.2019
The Australian dollar is back against the US dollar amid a narrow Australian data as the minutes of the monetary policy committee meeting are expected to be released on Tuesday.
Today, at the opening of the trading session, the Australian dollar against the US dollar rose to levels of 0.7152 at the time of writing this report after opening the trading session at 0.7131, achieving the highest price of the level of 0.7158.
Technical analysis:
AUDUSD made a clear break of 0.7135 and settled above it, to complete the formation of a bullish pattern that we expect to push the pair to test the 0.7220 initially, which turns the intraday upside move, noting that the extended target is 0.7300.
Therefore, the bullish trend will be likely for today unless the level of 0.7135 is broken and stability below it again.
The trading range for today is expected among the support at 0.7100 and the resistance at 0.7220.
The general trend for today is bullish.
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