The aussie dollar broke the consolidation structure that it has been trading within since 20th July 2021. We expect price to rebound upwards from here while keeping in mind the likelihood of highly manipulative price action in this range. Price needs to retest the 0.700 level before it can start its reversal to the upside.
BULL CASE
Price to rebound from here and find resistance at the 0.724 level
BEAR CASE
Price continues to break down to test 0.70 but quickly rebounds to test 0.724
BULL CASE
Price to rebound from here and find resistance at the 0.724 level
BEAR CASE
Price continues to break down to test 0.70 but quickly rebounds to test 0.724
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