AUD USD: During last week we have seen this pair formed a bottom around 0.70500 , from here the bulls are trying to go over.
There is a minor resistance around 0.71200 zone that keeping the price low. If a breakout during the next hours should occur
we may see the price reach the 0.72000 psychological level.
I'm not talking about trend reversal , that's still early in my opinion. But it might be a good occasion
to try again to break the descending trendline we can see in the daily timeframe.
It would be right attempt to break the trendline? Or just another bounce with new lows?
There is a minor resistance around 0.71200 zone that keeping the price low. If a breakout during the next hours should occur
we may see the price reach the 0.72000 psychological level.
I'm not talking about trend reversal , that's still early in my opinion. But it might be a good occasion
to try again to break the descending trendline we can see in the daily timeframe.
It would be right attempt to break the trendline? Or just another bounce with new lows?
Note
That's the daily timeframe. The descending trendline is clear and easy to spot.
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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.