We have a relatively strong area of resistance (grey box) on 1H. At the same time, the upward sloping trendline is being respected very well. Although the RBA has said that they want to keep AUD lower for longer, there is the potential for a retracement, so an upside break is possible. Also to be noted is the double bottom that had been formed.
UPDATE: Price has broken out to the downside.
Form your own opinions.
This is not to be interpreted as investment advice.
Trading leveraged products carries a potentially high level of risk.
Losses may exceed deposits.
UPDATE: Price has broken out to the downside.
Form your own opinions.
This is not to be interpreted as investment advice.
Trading leveraged products carries a potentially high level of risk.
Losses may exceed deposits.