AUD/USD Weekly outlook. 0.7700 in site.

11 giu 2017

Perfect bullish confluences on the above weekly chart to suggest another test of the 0.7700 level which has held as key resistance for some time now. Price has seemed to of rejected further downside as higher lows have been forming, and recently we have seen a further higher low forming on the highlighted 61.8% fibonacci level, confirmed with some strong bullish candles from this level. I believe we now have enough bullish momentum for price to rally and test 0.7700. However I missed my preferred entry on the 4 hour chart so I will let this pair play out on the sidelines! I thought id share my outlook for this pair though!