AUDUSD broke below the bottom support trend line of the price channel on its 4-hour chart, indicating that the upside movement from 0.7807 had completed at 0.8124 already.
AUDUSD broke below the bottom support trend line of the price channel on its 4-hour chart, indicating that the upside movement from 0.7807 had completed at 0.8124 already.
Further decline could be expected after a minor consolidation and next target would be at 0.7850 area.
Resistance is at 0.8050, only break above this level could trigger another rise towards 0.8162.
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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