The breakout of AUD/USD through the resistance line of a Channel Down could be a sign of the road ahead. If this breakout persists, we expect the price of AUD/USD to test 0.6859 within the next 13 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout before putting any money down.
Related Posts
EURJPY – approaching a resistance line that has been previously tested at least twice in the past
EURJPY is moving towards a resistance line. Because we have seen it retrace from this line before, we…
After testing 0.8189 numerous times, USDCHF is once again approaching this price point. Can we expect a bearish trend to follow?
USDCHF is moving towards a line of 0.8189 which it has tested numerous times in the past. We…
AUDCAD – approaching a resistance line that has been previously tested at least twice in the past
Emerging Channel Up pattern in its final wave was identified on the AUDCAD 1 hour chart. After a…