AUDUSD forms bottom at 0.7021 levels ?
The Aussie Dollar had dropped lower towards 0.7021 levels on Friday before reversing sharply above 0.7100 levels, almost taking out initial price resistance. We are bringing the AUDUSD chart after quite a few days to highlight that this could be the first impulse wave we have been waiting for, at a lower degree. Looking at the wave structure, the AUDUSD pair might be unfolding an expanded flat A-B-C which could potentially terminate above 0.7370 levels going forward. Please note that we are now changing the outlook to bullish again for medium term, with prices ideally staying above 0.7021 levels. For now, 0.7060/70 levels could be ideal to initiate long positions.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
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.