AUDUSD 240 possible channel shaping up
Above our current PA we had a very long time frame flat bottom triangle (in green) with a bottom break out 5 May 19 and retest as resistance 7 June 19. And below our current PA we have a SR that was last tested 18 Jan 2016. And the last actual cross of that SR was Oct 2008 through Mar 2009 – in other words a long long time ago.
I’m not sure of the significance of these two SRZ’s, but a channel could be shaping up.
I’m not sure of the significance of these two SRZ’s, but a channel could be shaping up.
Note
Great retest as resistance at the bottom of the flat bottomed triangle spot on with the last LH. I'll be looking for a downward cross of the RSI at 50 with a close below 50.
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.