AUDUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME
Publish Date : 2019/11/05 - 05:21

AUDUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME


  • The pair has staged another test on the 0.6930 major descending channel resistance yesterday, 04 Nov but failed to make another breakthrough. On the other hand, the retreat from 0.6930 has managed to make a bounce from the lower boundary of a minor ascending channel from 16 Oct 2019 low acting as a support at 0.6870 that offers some consolation for the bulls.
  • Overall, mix elements. Maintain neutrality stance between 0.6930 and 0.6870 (adjusted lower range). An hourly close below 0.6870 opens up scope for slide towards 0.6800 and 0.6720. On the flipside, a clearance above 0.6930 triggers a further rally towards the next intermediate resistance at 0.7000.

Source:forex.com



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