Technician

AUDUSD Technicals improving, but 0.9000 remains the main barrier

FX:AUDUSD   Australian Dollar / U.S. Dollar
368 2 2
AUDUSD             is in a clear sideways consolidation mode, after hitting the major swing low at 0.8845 areas, which formed a short term floor. A breakout of this sideways consolidation may signal a short term trading opportunity.

Overall technical picture is improving, however I would be cautious as the high of daily pin bar at 0.9000 resistance level is still intact. I will be watching and will look for longs if we break above it, with a an initial upside target at 0.9165.

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Hi, technician
I agree with you.
Reply
Hi technician

I feel that the 0.90 resistance will hold since the central bank wants it to be in between .90 to .85, so check it out. Cheers
Reply
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