RLinda ! AUDUSD-> Breaking resistance - bullish potential
AUDUSD from the opening of the session makes another attempt to break the downtrending price channel. A new bullish momentum is forming. What's next?
A break of the resistance of the descending channel is a delayed reaction to last week's news. The dollar got a little bit lower with the press release (technically it made a false-break and is making a correction), and thus the Australian national currency starts to strengthen and headed after the false-break of the 50 SMA towards the resistance at 0.67140 .
I expect that the price can form a small reversal from the resistance and in the midterm it can continue growing to 0.67977, and then to 0.69180.
Regards R.Linda!
A break of the resistance of the descending channel is a delayed reaction to last week's news. The dollar got a little bit lower with the press release (technically it made a false-break and is making a correction), and thus the Australian national currency starts to strengthen and headed after the false-break of the 50 SMA towards the resistance at 0.67140 .
I expect that the price can form a small reversal from the resistance and in the midterm it can continue growing to 0.67977, and then to 0.69180.
Regards R.Linda!
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