AUDUSD broke above the top trend line of the price channel on its 4-hour chart, indicating that the downside movement from 0.8065 had completed at 0.7807 already.
AUDUSD broke above the top trend line of the price channel on its 4-hour chart, indicating that the downside movement from 0.8065 had completed at 0.7807 already.
Further rally could be expected after a corrective pullback and next target would be at 0.8000 area. Support levels are at 0.7875 and 0.7807, only break below these levels could trigger another fall towards 0.7700.
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.