Forex Signal For AUD/USD: Path of Least Resistance Detected Rising.
Forex Signal For AUD/USD: Path of Least Resistance Detected Rising.
The path to the lowest resistance for the pair is to the upside, with the next key resistance at 0,7500.
Bull Market Outlook
- Buy the AUD/USD pair and take a profit at 0,7550.
- Add a stop-loss at 0,7350.
- Timetable: 1-2 days.
Forex Signal For AUD/USD: Path of Least Resistance Detected Rising.
Bear Market Outlook
- Set a sell-stop at 0,7400 and a take profit at 0,7300.
- Add a stop-loss at 0,7500.
The AUD/USD pair held steady after last week's data dump from the US and an ongoing earnings season, with the pair rising to its highest level since September 7 as investors focus on the continued Australian economy reopening and rising commodity prices.
It is trading at 0,7420, which is about 3,50% above the September low.
You may also be interested in: