AUDUSD .8005:An 8-month falling trendline breakout points higher
AUDUSD rallied strongly off the .7559/.7532 lows through an 8-month falling trendline and then the .7937 range high (March 23, 2015) to confirm a double bottom (a 12-week base) and trigger further upside towards .8294 (January 12, 2015 lower high) then possibly .8342 (.7532-.7937 from .7937) base target. On a pullback, the .7790 support area (April 27, 2015 weekly low) should hold dips. A break below there would caution for further weakness towards .7759/.7532.
Outlook:
Short term: bullish
Long term: neutral
Outlook:
Short term: bullish
Long term: neutral
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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.