AUDUSD → Readiness for distribution within the uptrend
AUDUSD breaks through the resistance of a wide trading range (consolidation) and is preparing for growth. Important news ahead...Ahead of the Fed's interest rate meeting, the dollar broke its upward trend and is storming support, hinting at a readiness to fall. The probability of a rate cut is 90%, and a fall in the dollar could trigger growth in the currency pair.
The currency pair is breaking through the consolidation resistance at 0.6628 and forming consolidation in a long zone. A trigger of 0.6649 appears on the chart - a breakout and close above this zone will trigger growth and a distribution phase.
Resistance levels: 0.6649, 0.67, 0.68
Support levels: 0.6628, 0.6581
Before rising, the price may test support (the previously broken trading range boundary). However, a breakout and close above 0.6649 could trigger a distribution phase towards 0.67-0.68, especially against the backdrop of a weak dollar...
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
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