AUDUSD potential measured move (bull flag) to 0.69?
Updated
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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