Bulls stampede towards 0.6900 targets

  • AUD/USD bulls are moving in on the 0.6900s ahead of key events.
  • The RBA and China Services are eyed but the technicals are firmly bullish.

As per the following series of technical analyses, AUD has been in the hands of the bulls this week so far ahead of the Reserve Bank of Australia meeting:

AUD/USD prior analysis, daily chart

The above chart was the pre-open analysis at the start of this week and below was the analysis conducted leading into the Asia today on the 15-0min time frame chart:

The 0.6880s that were forecasted pre-open at the start of this week into the RBA have been met and the pre-Tokyo analysis 06900/20 box could be mitigated immanently:

AUD/USD live chart, H1

There is going to the liquidity above the 0.6900 level which could well be exploited around the event. First, we have China Caixin Services as a potential meanwhile catalyst.

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