AUDUSD: Testing critical resistance at 0.7350-60 area
AUDUSD is testing critical resistance at the 0.7350-60 area. Besides the hourly readings that we see in the chart, the pair is also testing the basic down trendline that we can see in the Daily attached chart (yellow trendline in the hourly.
The move will find us sellers at current levels adding more at 0.7360. We'll set our stops above 0.7385 targeting 0.7315 and 0.7290 initially... We will update if needed...
Daily chart follows
The move will find us sellers at current levels adding more at 0.7360. We'll set our stops above 0.7385 targeting 0.7315 and 0.7290 initially... We will update if needed...
Daily chart follows
Comment:
Price went higher to test the daily trendline giving a reversal candle in the hourly chart and a new short term signal in the 15 min heikin ashi chart