Mihai_Iacob

AudUsd- Back to 0.68 after false break

Long
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Since the beginning of March, AudUsd is trading in a clear range between 0.66 and 0.68.
The end of May found the pair breaking under the support of this range, but the break lacked continuation and with the price getting back above support again it proved to be a false break.
Yesterday the pair tested again 0.6 and reversed and at the time of writing is trading at 0.6666.
Considering the false break and the recent test of support there are high chances of continuation to the upside and 0.68 resistance could be the target.
Back under 0.66 puts a pause to this scenario.

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