Invezted

AudUsd Upchannel , rejection at mean + 50% retracement

FX:AUDUSD   Australian Dollar / U.S. Dollar
61 0 1
Context:
A minor upchannel formed in this pair , the recent reaction brought us from the highs
to the mean of the channel aswell as the 50% mark of the recent rally price respcted those
levels , in conjunction with the strong buying pressure indicated by the strong rallies,
means that price is likley to test the upperlimits of the channel again.


Signs of strength:
upchannel
strong rallies (buying pressure)
50% retracement respected


Signs Of weakness:
none


Support:
77450
76600

Resistance:
78000
78400
78800

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