SamKent

AUD/USD TREND REVERSAL

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
5
The AUD/USD 4H chart seems to be ripe for a shift in trending momentum. The pair has broken the descending trend-line to the upside, has formed a massive breakout buying candle, and has broken RSI resistance at around the 60 reading. These factors make us short term bulls on the pair, after which we'll have to see how price action reacts at higher levels.