AUDUSD has broken through a supportive trendline and is now consolidating outside of it. We will be looking to go short once the local support zone breaks to the downside. Price currently looks as if it is forming a bearish rectangle, meaning we could go to the downside.
Traders should keep this pair on their watchlist and only open a position if price gives a valid entry.
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Best of luck traders!
Traders should keep this pair on their watchlist and only open a position if price gives a valid entry.
Be sure to follow me for more ideas analyses. Leave a comment with your thoughts below.
Best of luck traders!