AUDUSD testing major resistance, watch for a bullish break!
AUDUSD is testing major resistance at 0.7844 (23.6% Fibonacci retracement, horizontal overlap resistance, channel exit potential) and only a clean break above 0.7844 resistance could potentially open a move up to 0.7902 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (89) has made a bullish exit from our long term descending resistance-turned-support line signaling that a change in momentum to bullish could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) has made a bullish exit from our long term descending resistance-turned-support line signaling that a change in momentum to bullish could be expected.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results