The AUD/USD still mega bearish despite bouncing last Friday.
Short-term however we may be looking at some strength off these lows
There is significant resistance at 0.6868 and 0.6985
Potentially a good 100 pips when going long at the current level of 0.6841
At 0.6985 I will positively look to be short especially with the falling trend-line
coming in round these levels
There is a Flag structure at the 4 hrs chart which may strengthen the case
for about 100 pips.
Short-term however we may be looking at some strength off these lows
There is significant resistance at 0.6868 and 0.6985
Potentially a good 100 pips when going long at the current level of 0.6841
At 0.6985 I will positively look to be short especially with the falling trend-line
coming in round these levels
There is a Flag structure at the 4 hrs chart which may strengthen the case
for about 100 pips.
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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.