Jump to content
  • 0
Sign in to follow this  
Trevor Neal



1 answer to this question

Recommended Posts

  • 0

Thank you for your question. In general, AUD/USD has been one of the most volatile pairs out there recently. Following the creation of an 18-year low in March, the Aussie has rebounded strongly to trade at the February levels. 

The price action tested the 100-DMA on Friday just below $0.6540. A break of this resistance level would pave the way for a move to $0.6670, a confluence of the 200-DMA and the horizontal resistance. The confluence usually tends to attract the price action like a magnet, hence I’d be expecting the Aussie to try to test $0.6670 before rotating lower. 

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Create New...