Australia has had a reasonable amount of good news in the last couples week and we can we see it has benefited from the US reacting slow to Covid-19.
We expect to see the bulls carry on rising up until the 0.70321 area where the key resistance line lives. This can be seen in July 2019 and December 2019. We reached this line once already at the start of June with a little retracement slipping down to the 0.68121 area. Now heading back up for a retest.
For a short term BUY position, we could be looking at a small resistance line at 0.69705 where would be an ideal to place to TP1. Then carry the the TP2 upwards until the 0.70321.
We expect to see the bulls carry on rising up until the 0.70321 area where the key resistance line lives. This can be seen in July 2019 and December 2019. We reached this line once already at the start of June with a little retracement slipping down to the 0.68121 area. Now heading back up for a retest.
For a short term BUY position, we could be looking at a small resistance line at 0.69705 where would be an ideal to place to TP1. Then carry the the TP2 upwards until the 0.70321.
