Wouldn't it be nice if....
As the DXY fell through the week, the AUDUSD continued to rise to reach the round number and key resistance of 0.67 on Friday.
With no major news events on the horizon for the AUD, the price is likely to continue trading higher, especially if the DXY continues to weaken.
It is most likely that the price could trade beyond the 0.67 resistance level to signal a continuation of the uptrend, with the next key resistance level at 0.69.
However, wouldn't it be nice if the AUDUSD could retrace from here?
If the DXY recovers, the AUDUSD turning from the 0.67 resistance level toward the support level of 0.6540 could be a great R:R and countertrend trade.
With no major news events on the horizon for the AUD, the price is likely to continue trading higher, especially if the DXY continues to weaken.
It is most likely that the price could trade beyond the 0.67 resistance level to signal a continuation of the uptrend, with the next key resistance level at 0.69.
However, wouldn't it be nice if the AUDUSD could retrace from here?
If the DXY recovers, the AUDUSD turning from the 0.67 resistance level toward the support level of 0.6540 could be a great R:R and countertrend trade.
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