Following negative CPI data the Aussie dollar fell considerable today, moving price lower into potential buy territory at the 0.69650 significant support level. Additionally, this level coincides with a decent bull channel which has been in formation since the beginning of September.
Ultimately I remain neutral with this trade as there are still a number of things that could happen. I will be keeping this on my radar and will be looking for a nice candle signalling a long entry on the daily chart, in addition to supporting PA on the lower time frames.
Ultimately I remain neutral with this trade as there are still a number of things that could happen. I will be keeping this on my radar and will be looking for a nice candle signalling a long entry on the daily chart, in addition to supporting PA on the lower time frames.
Comment:
Price is at a minor level within the range of major support and resistance.