1-Hour Chart Analysis
The 1-hour chart for AUD/USD shows the pair trading within an ascending channel. The price is currently near the upper boundary of the channel, which suggests potential resistance.
Key observations:
Ascending Channel: The price is respecting both the upper and lower boundaries of the ascending channel, with multiple touches confirming the pattern.
Potential Retracement: There's a possibility of a retracement to the lower boundary of the channel, around 0.6760, before a potential bounce back to higher levels.
Target Levels: Immediate resistance is around 0.6800, with potential upside targets at 0.6820 and 0.6860 if the pair continues to move higher.
The 1-hour chart for AUD/USD shows the pair trading within an ascending channel. The price is currently near the upper boundary of the channel, which suggests potential resistance.
Key observations:
Ascending Channel: The price is respecting both the upper and lower boundaries of the ascending channel, with multiple touches confirming the pattern.
Potential Retracement: There's a possibility of a retracement to the lower boundary of the channel, around 0.6760, before a potential bounce back to higher levels.
Target Levels: Immediate resistance is around 0.6800, with potential upside targets at 0.6820 and 0.6860 if the pair continues to move higher.
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.
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.