rauan
Long

AUD/USD retraces from 0.6990 to 0.7070

FX:AUDUSD   Australian Dollar / U.S. Dollar
On weekly timeframe AUD/USD             tested long-term level 0.7232 but hasn't closed above and reversed down, which stated unconfirmed breakout. As daily candles show, closing values for 17-18 Sep were right below it. Also on daily chart AUD/USD             returned back below descending trend line (violet), which connects minimum levels from 24 Jan - 02 Apr             . Its current value 0.7070 works as resistance.


Brown line on 4-hour timeframe indicates current AUD/USD             support at 0.6990. Expected trading scenario is test and retracement upwards in direction 0.7070.


Daily resistance 0.7070 is confirmed on 15-minute timeframe with lower trendline . Upper lines suggest following dynamic resistance levels.
great
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