AUDUSD: Weekly Forecast 23rd- 27th Dec 2019
After AUDUSD broke above a 12 month falling trendline, it has found support at demand zone from a previously broken trendline.
Expecting price to continue rising till key resistance level, which is also a 61.8% fib level. Depending on how price reacts at that level, a good level to buy AUDUSD would be at previous support levels.
Should AUDUSD break the resistance highlighted in red, a good entry would be on the retested resistance turned support
Expecting price to continue rising till key resistance level, which is also a 61.8% fib level. Depending on how price reacts at that level, a good level to buy AUDUSD would be at previous support levels.
Should AUDUSD break the resistance highlighted in red, a good entry would be on the retested resistance turned support