AUDUSD: The Bull Takes the Charge
# The level of 0.66300 got breached
# The pair is up trending by producing a trend line
# The price may find its resistance around 0.69000 next
AUDUSD made an excellent bullish move in the H4 chart, which exactly we anticipated in our last analysis. The pair made another bullish breakout at 0.66300 and closed its week above the breakout level. Thus, the buyers may wait for the price to make a bearish correction followed by a bullish reversal candle at the breakout level to go long in the pair. The H4 chart shows that there is enough space for the price to travel towards the North, which may attract more buyers to push the price upside with good momentum. The price may find its next resistance around 0.690000.
On the other hand, if the price breaches the level of 0.66300, it may extend its bearish correction. However, the pair may not get that bearish to offer short entries to the sellers soon.
# The pair is up trending by producing a trend line
# The price may find its resistance around 0.69000 next
AUDUSD made an excellent bullish move in the H4 chart, which exactly we anticipated in our last analysis. The pair made another bullish breakout at 0.66300 and closed its week above the breakout level. Thus, the buyers may wait for the price to make a bearish correction followed by a bullish reversal candle at the breakout level to go long in the pair. The H4 chart shows that there is enough space for the price to travel towards the North, which may attract more buyers to push the price upside with good momentum. The price may find its next resistance around 0.690000.
On the other hand, if the price breaches the level of 0.66300, it may extend its bearish correction. However, the pair may not get that bearish to offer short entries to the sellers soon.
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.