Gastunechi
Long

AUSSIE to the upside after breaking major descending trendline?

OANDA:AUDUSD   Australian Dollar / U.S. Dollar
After almost 30 consecutive days of downside movement materialized by a descending trend line , the pair broke the major trend line .
On the H4, the breakout followed a phase of stabilization with the pair unable to create a lower low under the 0.68650 zone. During the stabilization phase, a bullish divergence was formed on the RSI 14 indicating a change in trend.

I expect to see the Aussie dollar reach 0.70000 level in the next trading sessions but will favor a retracement to 0.69050-0.69100 before entering a buy order.
Safe trading!
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