AUD/USD Macro View by ThinkingAntsOk
🔸 DAILY CHART EXPLANATION:
.
.
🔸 Price broke the Descending Trendline and made a strong upside move.
.
🔸 Now, it is facing the Resistance Zone.
.
🔸 We are waiting for a definition here. If price breaks to the upside, then the target would be the Resistance Zone at 0.7400, and, if price bounces, then the target zone is the pullback to the Broken Trendline.
.
🔸 Will look for a lower timeframe setup when the direction is clear.
🔸 WEEKLY CHART ANALYSIS:
.
.
🔸 Price broke the Descending Trendline and made a strong upside move.
.
🔸 Now, it is facing the Resistance Zone.
.
🔸 We are waiting for a definition here. If price breaks to the upside, then the target would be the Resistance Zone at 0.7400, and, if price bounces, then the target zone is the pullback to the Broken Trendline.
.
🔸 Will look for a lower timeframe setup when the direction is clear.
🔸 WEEKLY CHART ANALYSIS:
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.