AUD/USD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.7068 had completed at 0.6962 already. Further rally could be expected in a couple of days and next target would be at 0.7100 area.
AUD/USD Daily Analysis – Wednesday, May 8
AUD/USD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 0.7068 had completed at 0.6962 already.
Disclaimer:
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.