The pair is still flirting around the 0.8000 level the last two days
To break or not to break? That is the question for buyers. At the moment, AUD/USD has been inching above 0.8000 only to fall back to the figure level again. It's a magnet that's making life a little tricky for both buyers and sellers - as we're yet to see a firm break above.
Near-term, buyers are in control as the pair fell to the 200-hour MA and garnered support there before bouncing back above the 100-hour MA today:
But if it manages to hold above 0.8000, it could be a positive sign for things to come for AUD/USD bulls.
Seasonal pattern of AUD/USD - depicting % gains/losses on the month
Taking seasonal patterns into consideration, the last 9/10 Februaries have seen AUD/USD gain on the month. That's as strong as a bullish indicator as you can get for the next month.
While these things are not set in stone, but it does provide a good omen for the pair to push higher - and if it stays above 0.8000 as we head into February, I don't see why not.
