RuairidhFX

Resistance on the AUDUSD front?

FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Hello Traders

This week on AUDUSD , we can see price has broken the down trend, created a V formation in the chart and has now come up to the previous high at the 0.66670 area.

Price hasn't yet hit it's final level of fibonacci resistance at 0.786.

I will be keenly watching this pair, as well as AUDCAD and AUDJPY to see what trading opportunities arise.

Hopefully price will try to continue it's downtrend, but if it breaks this area of resistance, I could then be thinking about looking at a long position if it suits my trading strategies.

Please like and comment on this chart, any questions please do not hesitate to message me on here or on telegram.
@Roo_Martin
Always happy to help.

Happy trading

Roo :)

Please remember I am a hobby trader, this is not financial advice and any losses or gains are your own!
Be sure to like and comment on the chart and follow me on trading view.