Bee
Long

AUDUSD correction

FX:AUDUSD   Australian Dollar/U.S. Dollar
30 2 0
Breaking the descending trendline signals growing bullish sentiment, most likely temporar momentum to test the Monthly Pivot level ahead.

If that leg up fails, the near term support level should be 0.76010 where a double bottom was formed.
What about the double bottom around 0.76? doesnt that indicate a thesis for higher prices?
Reply
Bee Gorilllah
Well, technically yes it would. But in this context, we have a resistance to clear for price to advance higher. So lets try to act according to how price moves, instead of trying to predict future movements shall we ;)
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