Price is bumping agains't the short term trend line for more than a month now. AUD looks really eager to break it.
In addition, since the price moved from 0.63623 to 0.67 the market is digesting the move and forming a bull flag.
From a more fundamental perspective, Australia central bank is one of the only few still considering a potential hike in interest rates.
Considering all of the above, the probability is skewed towards prices going higher.
Short term trend line:
Long term trend line:
In addition, since the price moved from 0.63623 to 0.67 the market is digesting the move and forming a bull flag.
From a more fundamental perspective, Australia central bank is one of the only few still considering a potential hike in interest rates.
Considering all of the above, the probability is skewed towards prices going higher.
Short term trend line:
Long term trend line:
Trade active
Long term trend line broken. March to 0.69 might not take long, if this does not turn out to be a false breakout. The price was consolidating between 0.66 and 0.67 for more than a month and a half. It has built enough steam to fly
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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.