Bulls have failed to take the 0.7635 resistance on the 1st and 5th of Dec and actually fell 150p from this price level. It all changed last Thursday when it closed 28pips above this support (turned resistance) and currently re-testing this area. Traders can wait for the re-test as new support and if it holds on a Daily closing basis the next resistance level is at 0.7730. A daily close back below 0.7635 will negate the bullishness.

AUDUSD BULLS RETAKE 0.7635

Source: MARYNA

Leave a Reply

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