AUDUSD pullback
AUDUSD has broken out of an expanding triangle pattern. The recent break and close below a well-respected support level suggest a shift in trend. On the 1H timeframe, the market is currently pulling back toward the lower border of the channel, which could act as a potential bounce point, especially since the major trend remains bullish on the daily chart. Given this bullish backdrop, there is a strong possibility that the market will regain momentum and move higher. This may lead to a consolidation phase, with the price oscillating between support and resistance. It will be crucial to watch the price action near the lower channel border and support level for confirmation of the anticipated upward movement. The target is the resistance zone at 0.67613
Trade closed: target reached
Target was reached
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.