AUDUSD’s bounce from 0.6864 extended to as high as 0.7021. A further rally is still possible in a couple of weeks and the next target would be at the top trend line of the price channel on the daily chart.
AUDUSD’s bounce from 0.6864 extended to as high as 0.7021. A further rally is still possible in a couple of weeks and the next target would be at the top trend line of the price channel on the daily chart.
However, as long as the channel resistance holds, the bounce could be treated as consolidation for the downtrend from 0.7295, another fall towards 0.6765 support is still possible after the consolidation.
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.