Technical Analysis: Bullish flag on 4H keeps AUDUSD buyers hopeful
Despite recently easing from the intraday high of 0.7297, AUDUSD keeps bullish flag intact. Thus, pair buyers keep September's high of 0.7358 on the radar with the 0.7300 threshold acting as a trigger for fresh long. Intraday bulls may catch a breather around the monthly top surrounding 0.7340 before attacking the 0.7360 round-figure. Moreover, the quote's sustained upside beyond 0.7360 offers extra fuel to the north-run targeting the December 2018 peak close to the 0.7400 mark.
Meanwhile, a downside break of 0.7270 can extend the corrective pullback towards 0.7215 before eyeing the 0.7200 support. However, a clear downtrend past-0.7200 will help the short-term sellers target the 61.8% Fibonacci retracement near 0.7125. In a case where the pair keeps declining past-0.7125, 0.7060 and 0.7025/20 may act as buffers ahead of directing the bears towards the 0.7000 psychological magnet. Overall the trend remains directed towards the north unless the pair stays past-0.7000.