AUDUSD Technicals improving, but 0.9000 remains the main barrier
AUDUSD is in a clear sideways consolidation mode, after hitting the major swing low at 0.8845 areas, which formed a short term floor. A breakout of this sideways consolidation may signal a short term trading opportunity.
Overall technical picture is improving, however I would be cautious as the high of daily pin bar at 0.9000 resistance level is still intact. I will be watching and will look for longs if we break above it, with a an initial upside target at 0.9165.
Overall technical picture is improving, however I would be cautious as the high of daily pin bar at 0.9000 resistance level is still intact. I will be watching and will look for longs if we break above it, with a an initial upside target at 0.9165.