In mid-August, AUDUSD started to rise and correct the down move, at the beginning of September, a new leg down took place.
However, this new leg down couldn't make a new low, but a higher low instead which puts under question the medium-term downtrend.
The last breakdown has proven to be a false one and AAUDUSD pair quickly recovered losses.
At this point, the chart structure is very constructive and indicates bullish momentum for the coming days.
Actually, we need to see a solid breakout of the candle above the neckline.
Break of 0.73 resistance and continuation to very important 0.75 zone
PS: Please be aware that today U.S has "Nonfarm Payrolls"-an event with a lot of volatility in the price direction.
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However, this new leg down couldn't make a new low, but a higher low instead which puts under question the medium-term downtrend.
The last breakdown has proven to be a false one and AAUDUSD pair quickly recovered losses.
At this point, the chart structure is very constructive and indicates bullish momentum for the coming days.
Actually, we need to see a solid breakout of the candle above the neckline.
Break of 0.73 resistance and continuation to very important 0.75 zone
PS: Please be aware that today U.S has "Nonfarm Payrolls"-an event with a lot of volatility in the price direction.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.