Recently, the AUD/USD has been trading downwards. The price tested the level of 0.7459. According to the H1 time – frame, I found broken upward trendline in the background which is a sign that sellers are in control. I also found a potential end of the intraday bullish corrective phase which is a sign that AUD/USD may continue lower. My advice is to watch for potential selling opportunities. The downward target is set at the price of 0.740.
Resistance levels:
R1: 0.7539
R2: 0.7610
R3: 0.7650
Support levels:
S1: 0.7430
S2: 0.7393
S3: 0.7320
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, the AUD/USD has been trading downwards. The price tested the level of 0.7459. According to the H1 time – frame, I found broken upward trendline in the background which is a sign that sellers are in control. I also found a potential end of the intraday bullish corrective phase which is a sign that AUD/USD may continue lower. My advice is to watch for potential selling opportunities. The downward target is set at the price of 0.740.
Resistance levels:
R1: 0.7539
R2: 0.7610
R3: 0.7650
Support levels:
S1: 0.7430
S2: 0.7393
S3: 0.7320
Trading recommendations for today: watch for potential selling opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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