AUDUSD - Testing Key Zone with Divergence
AUDUSD is trading in a descending parallel channel and is testing a key resistance cum support zone. It has also formed bullish divergence on RSI at this key zone. A break out on either side of this key zone will set short term trend for the pair. Due to bullish divergence on RSI, I expect price to break out from descending channel and resume bullish move in short run.
Note
As expected we had a solid break out from parallel channel. Lets see if it is sustainable or not.
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