The price of AUDUSD has been in a descending channel since February 2021.
At this point, it is testing the resistance imposed by the upper bound of the descending channel (green lines) around $0.74.
If the resistance can't be broken, it may continue its downtrend toward $0.70 (red lines).
At this point, it is testing the resistance imposed by the upper bound of the descending channel (green lines) around $0.74.
If the resistance can't be broken, it may continue its downtrend toward $0.70 (red lines).
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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.