AUDUSD recently broke through the resistance trendline for the down-trend. We can also see that price is now way above the 200 Moving Average which indicates that this can be a breakout/a new uptrend. After yesterdays sessions, we saw that the pair is a bit oversold, but price didn't react relative to this. We will wait for price to retest the broken resistance, creating a new support before entering a long position on this. If price were to break down through the new support we will be looking at a good short opportunity.
Trade active:
might have a double bottom on the new support, waiting for break on neckline.
Comment:
:)