AUD momentum starting to slow down and swing Upwards
as of the 6th/oct upward momentum has started to build across most time frames
4h chart is showing PA crossing both the 50 amd 200 MA/EMA, with the MAs also swinging up and crossing to the Upside.
Price seems to be following the new upward trend line which is a mirror of the recent downtreand.
RSI is in over bought for now, so we should get a pull back to around 0.7100 maybe as low as 0.7050 and then see PA start to head back up again to continue the new trend.
aside from the round numbers, we have next major resistance around 0.7550 with multiple Fib levels around this area and S+R around here also.
im expecting to the Oz to be around the Major resistance by the end of November.
of course, this will all be VOID if PA pushes back below 0.7000 and closes there, then this would be a False breakout.
4h chart is showing PA crossing both the 50 amd 200 MA/EMA, with the MAs also swinging up and crossing to the Upside.
Price seems to be following the new upward trend line which is a mirror of the recent downtreand.
RSI is in over bought for now, so we should get a pull back to around 0.7100 maybe as low as 0.7050 and then see PA start to head back up again to continue the new trend.
aside from the round numbers, we have next major resistance around 0.7550 with multiple Fib levels around this area and S+R around here also.
im expecting to the Oz to be around the Major resistance by the end of November.
of course, this will all be VOID if PA pushes back below 0.7000 and closes there, then this would be a False breakout.
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