Analysis:
Looking at the charts we can clearly see that price was in an upwards trend. We've seen price form higher highs and higher lows, until recently when we saw this trend change and price started to make a move to the downside. In our opinion price is still in a long term upwards trend, however the short term trend was to the downside, but we are actually...
This is at a support level and I am expecting it to rise slightly from here before breaking through. It is too risky to enter before it breaks the support but if it does then a short can be entered on a retest of this level which would then be acting as resistance. Target would be 1.4232
Aud/Usd - H4 - Price broke out of consolidation with strong bullish momentum so now I am expecting a classic break/retest/continuation scenario with other price action tools as confirmation.
AUDUSD looks bullish after having a weekly close above the monthly resistance. I believe we will see aussie come down and retest the monthly resistance as a support before moving higher long term. Also moving averages on the monthly time frame are coming close to crossing. I will be watching this pair closely for nice long entry around the monthly support.
