AUDUSD Rebound likely

09 March 2021

AUDUSD has been in a medium term uptrend as evident from the daily and the weekly chart, albeit it has witnessed near term organic correction since the last week of February. Currently the pair stands at the multiple support zone suggesting buying could be witnessed near current levels, short term base could be formed and a rise could unfold from this support zone. It is likely that AUDUSD could rebound towards 0.7700 and 0.7730 while it sustains above 0.7605.

Prepared by
Technical Analysis Team

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