R.Linda Trading - forecast

AUDUSD → Test resistance for an upward breakout

FOREX forecast
💡Ideas For AUDUSD 🇦🇺🇺🇸

📈 AUDUSD → Test resistance for an upward breakout


AUDUSD forms a retest of the descending channel resistance, but there is no fall. Against the background of the dollar correction, the currency pair may move into the realization phase after the channel breakout.
Moving averages, trend resistance and pre-breakout consolidation, with strong support zones, to which a large buyer does not let the price go. An interesting setup in the current conditions may form an attempt to change the trend. The key area is 0.6585. Consolidation of the price above this boundary may allow to overcome the obstacle and finally let the price strengthen to 0.66676, or to 0.67287.

Resistance levels: 0.6585, 0.6620

Support levels: 0.6551, 0.6504

Technically, there is a strong accumulation and prerequisites for a breakout. The resistance breakout will confirm the activation of the realization phase, which will give us a good bullish momentum.