AUDUSD analysis for Week 5
Hi traders, last 2 months what a incredible move for AUDUSD. Last week, we broke 0.8100 and create a 2-year high since May 2015. Price on Daily time frame was guided accurately by the MA. Now what I actually do is wait for the reaction of the pair around 0.8100 level of resistance. It has been tested 3 times last year and failed to closed above.
Let's wait and see what will happen next week!
- My first scenario is a strong close above 0.8100. Price then find a historical level of resistance at around 0.8200, go back to retest 0.8100 then go much higher. Combined to the DXY analysis, I actually prefer this one to happen
- Second scenario: It's a fail break, then 0.79250 will be my next target on the pair
Let's wait and see what will happen next week!
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