AUDUSD trend continuation
The AUDUSD is currently in an upward trend. You can see this on the 2 black trend lines. These created an ascending triangle, which is very useful for our analysis.
Several zones have been signed in the chart. As you can see, 4H resistance zones have been drawn. These zones can have a major impact on the price. The 1H zones are support zones that are currently being tested.
The blue trend line indicates the daily trend. If the price would move in this direction, I will add a new daily analysis.
Expectations:
I expect the AUDUSD to keep up its upward movement. Zone 1 and zone 2 have been signed in the chart. When the price leaves zone 1, the price will make a more lateral movement in zone 2.
I expect the trend to persist at least until the first 4H resistance zone. If this is broken, our next TP will be the other 4H resistance zone.
Hope you like my idea and analysis of this chart. I will provide updates on the analysis in the future.
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