AUD/USD Forecast: Holding above 0.7200 ahead of critical wage growth data

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AUD/USD Forecast: Holding above 0.7200 ahead of critical wage growth data
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Aussie retains its bullish potential despite mounting risk aversion AUD AUDUSD $AUD $AUDUSD

. Market participants maintain their attention on the Ukrainian/Russian border, as chances of a war in Eastern Europe have increased. The greenback, however, posted a modest comeback, considering the poor performance of Wall Street.

The near term picture is neutral-to-bullish, as the 4-hour chart shows that the pair holds above a mildly bullish 20 SMA, which advances above the longer ones, while technical indicators lack directional strength but hold above their midlines. A slide below 0.7150 should favor a continued decline towards the 0.7060/70 price zone.View Live Chart for the AUD/USD

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

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