AUDUSD H1: Bullish outlook seen, further upside above 0.6550
Price is testing a key resistance zone at 0.6550 on the H1 timeframe, which is in line with the 38.2% Fibonacci retracement. A break above this upside confirmation level could provide the bullish acceleration to the resistance zone at 0.6620, which coincides with the 78.6% Fibonacci retracement. Price is holding above 20 EMA, supporting our bullish bias.