Audusdbuy
AUDUSD LongPrice is on an up trend
Price is at 0.618 fib retracement level where the new HL is likely to be formed if the trend holds.
On a lower time frame ( i have used 30min) a descending wedge pattern has been broken and price has potential to rise further up towards the .382 fib extension level
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AUDUSD approaching support, potential for a further rise!
AUDUSD approaching support at 0.68530 where it could potentially rise further to 0.68981.
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AUDUSD potential reversal!
AUDUSD expected to rise up to 1st resistance at 0.68906 where it could potentially react off and drop down to 1st support at 0.68589.
*Disclaimer.*
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
AUDUSD Market Outlook | Daily Forex Market BreakdownAUDUSD
AU pulling back nicely. I have been calling AUs movement pretty well, I would have liked for it to come a bit lower. It is at a very interesting level right now we are currently retesting the trend line and previously mapped out support. Keep in mind that around trend lines there tends to be a lot fo confusion in the market. AU is kinda at a make it or break it level so we will be watching very close. Possible signals soon.