Aussie's Ascent: AUD/USD Resistance Breakout
Check out the AUD/USD chart—it's on a serious uptrend. The price is skating above the yellow line (that's the 21 EMA) like a pro, which is trader talk for "things are looking up."
We’ve got a bunch of green Heikin Ashi candles here, and they’re basically giving us the thumbs up, signaling that the Aussie dollar is flexing its muscles against the US dollar.
Now, it's knocking on the door of the resistance level at 0.66028. If it busts through, we could see it jump higher. But if it bounces off, there's a safety net not too far below at 0.65066, and then another one at 0.64524.
The play? Watch that resistance. If we break it, we might ride the wave up. If not, and we drop below the yellow line, it could be time to hit pause. Hit the link to see more of my trade ideas:
We’ve got a bunch of green Heikin Ashi candles here, and they’re basically giving us the thumbs up, signaling that the Aussie dollar is flexing its muscles against the US dollar.
Now, it's knocking on the door of the resistance level at 0.66028. If it busts through, we could see it jump higher. But if it bounces off, there's a safety net not too far below at 0.65066, and then another one at 0.64524.
The play? Watch that resistance. If we break it, we might ride the wave up. If not, and we drop below the yellow line, it could be time to hit pause. Hit the link to see more of my trade ideas:
Sheena Lynne