AUD/USD Weekly Analysis – Monday, Nov. 12

AUD/USD pulled back to 0.7215 area. Deeper decline is still possible and next target would be at bullish trend line on the 4-hour chart. However, as long as the trend line support holds, the pullback could be treated as consolidation for the uptrend from 0.7020 and another rise towards 0.7340 is still possible after the consolidation. Only a clear break below the trend line support could signal completion of the uptrend.

AUDUSD 4-hour chart

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.