Last week, we were expecting the Australian Dollar to reach the resistance level highlighted on the chart. Instead, the price gained some bullish momentum and made an unsuccessful attempt to break the support level. In the coming week, we expect the price to begin a bullish move that will test the resistance area highlighted on the chart. We recommend caution when trading this pair as we find ourselves in the middle of a complex consolidation pattern. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.