AUDUSD Approaching a Resistance Cluster ahead of 1D Golden Cross

The AUDUSD pair is about to form a Golden Cross on the 1D time-frame (MA50 blue trend-line crossing above the MA200 orange trend-line), but is approaching the strongest long-term Resistance cluster. That consists of the 0.71400 August 11 2022 High and the 1W MA100 (red trend-line).

Being also near the top (Higher Highs trend-line) of the mid-October Channel Up, with the 1W RSI also near its March 2022 Resistance, it is more likely to see a pull-back towards the 1D MA50/200 and the bottom of the Channel Up, which will be the new long-term buy opportunity, targeting the 0.72685 - 0.72845 Resistance Zone. Any break above that Zone without pulling back, will be a buy break-out signal, targeting the 0.76650 April 05 High.


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