Pivot point: 0.7440
The expected scenario: Entering long positions at the highest levels of 0.7440, while targeting the levels of 0.7540.
Alternative scenario: entering short positions below the 0.7440 levels, targeting the 0.7330 levels.
Commentary: The Australian dollar pair is still maintaining the general upward trend in the short term, through the ascending price channel, where we are expected to witness a correction wave in the short term, During the current week's trading, after reaching the aforementioned price targets, especially in light of the price consolidation above the moving averages (50 - 100), which supports the positive outlook for the pair's trading in the short term.
