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AUDUSD remains in the uptrend from 0.7807

AUDUSD remains in the uptrend from 0.7807, the fall from 0.8124 is likely consolidation of the uptrend. Near term support is located at the bullish trend line on the 4-hour chart. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 0.8162. On the downside, a clear break below the trend line support could take price back to next support level at 0.7960, only break below this level could indicate that the bullish movement from 0.7807 is complete.

AUDUSD 4-hour chart

By ForexCycle.com

 

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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