BluetonaFX - AUDUSD More Upside Potential After Resistance Break
Hi Traders!
AUDUSD continues to trade with bullish momentum, and there is potential for further upside targets as the market has broken above its three-month range zone.
Price Action 📊
After breaking above the range zone resistance at 0.65230, the market re-tested the resistance break as support, and the support held successfully. The price action looks very bullish, and our plan is to buy market dips to target further upsides.
Fundamental Analysis 📰
The minutes from the November 7th Reserve Bank of Australia meeting revealed a very close call to increase rates by another 25 basis points with the goal of curbing inflation. Governor Bullock warned that prices are ‘rising strongly for the majority of the goods and services we all consume.’ She also suggested that interest rates in Australia would remain high.
Support 📉
0.65230: PREVIOUS RANGE ZONE RESISTANCE
Resistance 📈
0.65896: WEEKLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
AUDUSD continues to trade with bullish momentum, and there is potential for further upside targets as the market has broken above its three-month range zone.
Price Action 📊
After breaking above the range zone resistance at 0.65230, the market re-tested the resistance break as support, and the support held successfully. The price action looks very bullish, and our plan is to buy market dips to target further upsides.
Fundamental Analysis 📰
The minutes from the November 7th Reserve Bank of Australia meeting revealed a very close call to increase rates by another 25 basis points with the goal of curbing inflation. Governor Bullock warned that prices are ‘rising strongly for the majority of the goods and services we all consume.’ She also suggested that interest rates in Australia would remain high.
Support 📉
0.65230: PREVIOUS RANGE ZONE RESISTANCE
Resistance 📈
0.65896: WEEKLY HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Comment:
Target Area reached.
