AUDUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME
Publish Date : 2019/10/01 - 07:02

AUDUSD TECHNICAL ANALYSIS ON H1 TIMEFRAME


  • The pair has drifted lower as expected and hit the short-term downside target/support of 0.6760/6740 as per highlighted in our previous report.
  • It has printed a current intraday low of 0.6729 in today’s Asian session (at this time of the writing) as RBA’s decision looms. Right now, it has started to evolve into a minor “Descending Triangle” configuration; a bearish continuation pattern with a resistance at 0.6765. Maintain bearish bias in any bounces below tightened key short-term pivotal resistance at 0.6800 for a potential bearish breakdown to retest the 0.6690/6670 range support in place since 07 Aug 2019.

Source:forex.com

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