AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
AUD/USD broke multi-month resistance level 0.7740
2019-11-11 • Updated
- AUD/USD broke multi-month resistance level 0.7740
- Next buy target - 0.7900
AUD/USD continues to rise inside the minor impulse wave (iii) – which earlier broke through the powerful multi-month resistance level 0.7740 (which has been steadily reversing all upward impulses of this currency pair from the middle of 2016, as can be seen from the daily AUD/USD chart below). The breakout of this resistance level should lead to the substantial strengthening of of the bullish pressure on this currency pair. AUD/USD is expected to rise to the next buy target at the next resistance level 0.7900.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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