AUDUSD: Potentially breaking above the monthly resistance soon
AUDUSD appears to be about to rally for the intermediate to long term, judging by how the pair has been acting lately, as well as how fundamentals are setting up. With oil in a strong advance, commodities are potentially rallying higher, which would boost currencies like the Aussie dollar.The technical chart here shows the pair is coming up after being heavily oversold and very washed out, with shorts covering, helping bulls lift off. Weekly and monthly charts show good potential, with a monthly uptrend signal pending confirmation as a potential development, as well as a weekly buy signal from Tim West's proprietary indicators.
Best of luck if trading it, and ideally, trade the long side with me.
Cheers,
Ivan Labrie.
Disclaimer: I am long $AUDUSD.
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AUDUSD looks pretty good, hold! Note
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Daily targets hit. Good to bank profits and wait for the Fed news to come out...after the news we can trade it again. I think the trend is now up.
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Waiting for 3-4 days to buy back AUDUSD Note
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🔒Want to dive deeper? Check out my paid services below🔒
linktr.ee/ivanlabrie
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.