AUDUSD ANALYSIS

HELLO ALL,

AUDUSD HAS RETRACED TO .50 FIB ON THE 4HR CHART FROM ITS HH IT FORMED AFTER THE DOUBLE BOTTOM, AND CLOSED ABOVE THE .50 FIB. MY TECHNICAL VIEW, I SEE THIS PAIR GOING UP HIGHER.

DAILY SHOWS A BREAK HIGHER FROM A SIDEWAYS TREND AND IS CURRENTLY SITTING AT THE PREVIOUS RESISTANCE WHICH IS NOW SUPPORT.

TECHNICALS LOOK VERY PROMISING, BUT, WE HAVE TO WAIT AND SEE WHAT THE FUNDAMENTALS AND PRICE ACTION SHOW US THIS WEEK. WITH USA AND CHINA TENSIONS AND THE RONA VIRUS, ANYTHING IS POSSIBLE.

IF YOU LIKE PLEASE GIVE A THUMBS UP AND ALSO COMMENT YOUR OPINIONS AND IDEAS, THANK YOU!