AUD/USD is Close to Important Resistance

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The AUD/USD is getting close to a resistance cluster 0.6930-46. The price is still consolidating but we might see a rejection soon.

If the price gets in the POC watch for possible reversal patterns. A u-turn might reject the price towards 0.6920. A break of ascending trend line should provide bearish continuation towards 0.6912, 0.6895 and 0.6894. Only a break of 0.6965 to the upside might turn the trend on intraday time frames. Have in mind that the ATR (5) of the pair is only 31 pips so protecting profits on intraday timeframe is crucial.
The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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