AUDUSD broke above the falling price channel on the 4-hour chart, suggesting that the downside movement from 0.6213 had completed at 0.5979 already.
AUDUSD broke above the falling price channel on the 4-hour chart, suggesting that the downside movement from 0.6213 had completed at 0.5979 already.
Further rally would likely be seen and next target would be at 0.6213 resistance, a break of this level would aim 0.6400 area. Support is at 0.5979, only break below this level could trigger another fall towards 0.5800.
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.
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