AUDUSD has been showing a strong uptrend since hitting a low of 0.6573. The pair remains above the rising trend line on the 4-hour chart, indicating the continued strength of the uptrend.
However, as the pair approaches the resistance level at 0.6805, there may be some hesitation in the bullish momentum. A break above this level could trigger further upside movement towards 0.6880, but a failure to break through could lead to a pullback towards the near-term support at 0.6735.
If the pair does break below this support level, the price could retreat further towards the rising trend line on the 4-hour chart. A break below the trend line support could indicate that the upside movement from 0.6573 has completed and that a retracement or reversal is underway. The next support level would be at 0.6570.
Overall, as long as the pair remains above the rising trend line, the uptrend from 0.6573 is expected to continue. However, traders should watch closely for any signs of a reversal or retracement as the pair approaches the resistance level at 0.6805.
