Weekly trend on this pair is up, so I would prefer long trades on this pair.


Price is at the moment at weekly resistance at 2.3350. So trend traders, if they are not already in a long position, should wait for resistance break and a retest. I marked that option from trend line intersection with resistance, which could turn into support on bellow 4h chart.


Based on weekly chart, I’m not inclined to short position, but if we will get good rejection of resistance instead of break, I would look for short position on the resistance retest, option 2.
There is no UK red news ahead of us, in AU we have Monetary Policy Meeting Minutes news tomorrow.

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