AUDUSD broke above the resistance of the descending trend line on the 4-hour chart, indicating that the downward movement from 0.7517 had completed at 0.7371 already. Further rise to test 0.7517 resistance could be seen after a minor consolidation, a break through this level could take price to the next resistance level at 0.7550. Support is at 0.7440, only a breakdown below this level could trigger another fall to test 0.7428 support.

audusd 4-hour chart


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.