As the Dollar index is getting stronger AUD/USD should hopefully break the channel that has now formed outside of the downtrend. If we can break below and close below the support line then there could be a large fall to the downside.
Plus, the 20 Moving Average (yellow) has just crossed the 50 MA (grey), so if we can close below these there's another indication that we are in a selling position.
Equally, if we can break and close above the resistance level, and above the moving averages, then possible to carry on with previous trends upwards.
Just thinking out loud. Let me know your thoughts.
Plus, the 20 Moving Average (yellow) has just crossed the 50 MA (grey), so if we can close below these there's another indication that we are in a selling position.
Equally, if we can break and close above the resistance level, and above the moving averages, then possible to carry on with previous trends upwards.
Just thinking out loud. Let me know your thoughts.