Will AUD Trump The USD - Short To Long Term Analysis Of AUDUSD
From a daily perspective AUDUSD has been in a in a clear uptrend, displaying higher highs and higher lows which, looks to continue rising, after potentially making a new higher and a further higher high.
What this can means for short to medium term traders is that there could be shorting oppourtunities down to around 0.7650 and 0.7500, a confirmation of this will be a break of the daily double top neckline, down to the daily support 0.7650 and outer trendline.
As previously stated, a break of daily support at 0.7650 and the outer trendline will take price down to 0.7500, this is where I'll be looking for longs up to monthly resistance at 0.8000. 0.8000 is a interesting target price at it's both point A of the weekly decending trendline and the D1 fib extention.
What this can means for short to medium term traders is that there could be shorting oppourtunities down to around 0.7650 and 0.7500, a confirmation of this will be a break of the daily double top neckline, down to the daily support 0.7650 and outer trendline.
As previously stated, a break of daily support at 0.7650 and the outer trendline will take price down to 0.7500, this is where I'll be looking for longs up to monthly resistance at 0.8000. 0.8000 is a interesting target price at it's both point A of the weekly decending trendline and the D1 fib extention.