AUDUSD - Daily - On the edge.
Since my last review of this pair in September, it had a really strong decline. Blame Gold...
It has come to this interesting level, where the question arises, will it bounce or fall?
You, probably, won't get any other answer from me, apart from "Wait for the close". If the Daily will close below the trend line, which is currently working as support, then the potential is to the downside.
Be careful with false breakouts!
If today it won't close below that trend line and tomorrow the day will close above it as well, then guess what, we could see some recovery.
Certainly, it's not very exciting to sit there and wait, but if you want to just set up alerts on your platform with some key levels, then you could do that instead of sitting and staring at it.
if we will have a close below, then I would be aiming for 0.75500.
If we will see a bounce, then aiming for around 0.77783, which was last year's November high.
As always, keep an eye on the price action!
It has come to this interesting level, where the question arises, will it bounce or fall?
You, probably, won't get any other answer from me, apart from "Wait for the close". If the Daily will close below the trend line, which is currently working as support, then the potential is to the downside.
Be careful with false breakouts!
If today it won't close below that trend line and tomorrow the day will close above it as well, then guess what, we could see some recovery.
Certainly, it's not very exciting to sit there and wait, but if you want to just set up alerts on your platform with some key levels, then you could do that instead of sitting and staring at it.
if we will have a close below, then I would be aiming for 0.75500.
If we will see a bounce, then aiming for around 0.77783, which was last year's November high.
As always, keep an eye on the price action!
