AUD/USD Analysis - Break or Bounce?
Good morning traders, today we bring you our daily chart analysis of the AUD/USD pair.
🔸As we can see, the price broke the Ascending channel.
🔸Now, it is facing against the support zone (previous low).
🔸From here we have two possibilities:
🔸1) A possible upward movement, which implies a rebound and a movement towards the resistance zone.
🔸2) A bearish break, which implies a bearish movement towards the next Support zone.
🔸 We still consider that there was no confirmation for any direction, and the price is only in a small consolidation in the area. Will wait for a clear scenario.
🔸As we can see, the price broke the Ascending channel.
🔸Now, it is facing against the support zone (previous low).
🔸From here we have two possibilities:
🔸1) A possible upward movement, which implies a rebound and a movement towards the resistance zone.
🔸2) A bearish break, which implies a bearish movement towards the next Support zone.
🔸 We still consider that there was no confirmation for any direction, and the price is only in a small consolidation in the area. Will wait for a clear scenario.