Good day traders, I hope you are all well. There have been some modifications to the previous AUDUSD setup that I recently uploaded so lets get into. As you can see on the picture I uploaded above we can clearly see a "pending inverse head and shoulder formation", head and shoulder is one pattern I really understand so that is why I will mostly be referencing to it to paint an idea. So that being said I believe price for AUDUSD will be continuing bullish heading for the RESISTANCE(0.68465-0.68958) and when price gets to this resistance we can then expect the formation of the "right shoulder" in other words a retracement back to our previous RESISTANCE(0.65069-0.64576) as our NEW SUPPORT as price continues bullish.
Trade with caution, protect your money. Thank You.
Trade with caution, protect your money. Thank You.