aussie forecast. on the daily chart price has been on a steady rally breaking previous bearish structure where i witness resistance levels now acting as support.
this upside movement is due to price finding demand around the 0.63700 to 0.62800 price areas with the most impactful price being demand at proximal price 0.63500 which is currently in control of price.
this increase in bull momentum resulted in price breaking and trading above liquidity pool ranging from 0.65300 to 0.65200, price retested this important market structure failing to close below it, with extra bullish confirmation of price breaking also and trading above dynamic resistance trendline forming several OHLO candlesticks indicating increasing bullish momentum and strong demand dominance in price.
i have a long bias on the currency pair all the way to next above crucial price level which is supply CP(imbalance continuation pattern) of proximal price 0.66300.
put together by : Pako Phutietsile ( @currencynerd )
