Reactions of trends and resistance levels

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD has now reached the key level 0.80600 again, the highest point for this pair since May 2016. Made clearer on the daily chart , price did not idle at this point. Price reached the weekly key level and formed a pinbar showing how strong this level is. The confluence is solid for bearish momentum. Price is now in a consolidation phase reacting strongly to 0.79700 support level . I don’t believe price will stay surrounding this level for long so I see a downside break coming soon. For confirmation, I am waiting for a clear break of the support with a possible retracement before heading down to level 0.78300.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out