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AUDUSD: Break or Bounce!


Weekly Time Frame:


Daily Time Frame:


4Hour Time Frame:


 

Weekly Time Frame: We can see price testing strong areas of weekly support. By looking in the past we can see how well respected this area is. If price manages to stay above this support zone we can look to hold our buys to our target areas.


Daily Time Frame: We can see how price is creating a triple bottom formation around the .66750 key quarterly psychological. we can also see how price managed to break the down channel and is currently retesting as support.


4Hour Time Frame: We can see price testing our .66750 quarterly psychological support. Again if price manages to maintain above this zone we can look for buying opportunities. Although if price manages to break through our support and back into the down channel we can look to sell this down to .65000 quarterly psychological.


 

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