AUD/USD, Aussie could try to reach 0.7600!?

mario urlic forex aud-usd 16.02.

You can see in my weekly chart that the Aussie is trying to brake this strong weekly down trend line and if the buyers manage to brake this, the Aussie will attack 0.7400 for the fourth time. In this case, I see a possible attack at the 0.7600 level. What needs to happen now? At first, this trend line must be broken, after wich the 0.7150 level will become a strong support on the way up. I see this current formation at my weekly chart as an descending triangle and possible breakout. Keep watching in this level and trendline, I will follow the move. In my last AUD/USD analysis and move prediction from January 26., you can see how accurate was the move and in that prediction I have pointed in this trendline as an 3rd strong resistance on the way up at 0.7240/60, which stopped the pair exactly at that level.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s