This trade steup on AUD/USD is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bullish breakout through resistance, it seems to suggest that we could see the next price move to 0.6649.
Related Posts
GBPCHF seems to be on its way to resistance – a possible opportunity?
GBPCHF is about to retest a key horizontal resistance level near 1.0843. It has tested this level 4…
Because USDJPY formed a Channel Down pattern, we expect it to touch the resistance line. If it breaks through resistance it may move much higher
USDJPY is heading towards the resistance line of a Channel Down and could reach this point within the…
A Channel Up has formed, EURUSD is approaching resistance. Can we expect a breakout and the start of a new trend or a reversal?
EURUSD is trapped in a Channel Up formation, implying that a breakout is Imminent. This is a great…