AUD/USD broke below the rising trend line on the 4-hour chart, indicating that the short term uptrend from 0.7732 had completed at 0.7897 already.
AUD/USD broke below the rising trend line on the 4-hour chart, indicating that the short term uptrend from 0.7732 had completed at 0.7897 already. Further decline could be expected in the coming days and the next target would be at 0.7732 previous low, followed by the resistance-turned-support trend line on the weekly chart. Resistance levels are at 0.7860 and 0.7897. Only a break above these levels could trigger another rise towards 0.7986.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
Comments
Log in or sign up to join the conversation.