Aurum Markets Blog Technical Analysis Possibility of big movement expected on AUDUSD

Possibility of big movement expected on AUDUSD

Possibility of big movement expected on AUDUSD post thumbnail image

AUDUSD has broken through a support line of a Rising Wedge and suggests a possible movement to 0.6221 within the next 22 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 6 days.

Supported by RSI above 60

Target: 0.6221 Entry: 0.629 Stop: 0.6315

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post