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FRA40 – approaching a support line that has been previously tested at least twice in the past

FRA40 is moving towards the support line of a Channel Up. Because we have seen it retrace from this line before, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 7 days and may test it again within the next 20 hours.

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We expect a $10 movement on AUDUSD within 2 hours following the event release at 22 Aug 07:30.

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After testing 106.5070 numerous times, USD/JPY has finally broken through. Can we expect a bearish trend to follow?

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