ADAUSD is moving towards a line of 0.4647 which it has tested numerous times in the past. We have seen it retrace from this position in the past, so at this stage it isn’t clear whether it will breach this price or rebound as it did before. If ADAUSD continues in its current trajectory, we may see it move towards 0.4647 within the next 2 days.
Supports and resistances are primary concepts of technical analysis. ADAUSD is heading for an important price of 0.4647 – read about what this could mean for the future.
