We know the Aussie has been building a very wide pennant on the weekly chart, looking like a bullish chart. On a closer look, it seems that we may break to the upside, especially as the USD may continue lower. If we see a breakout, our first target can be previous resistance at 1.06.
However, if we do not breakout yet, we can see price reacting to current resistance and potentially reaching the 200ma at around 1.03 area.
Note: the forecasts are not necessarily time-sensitive.
However, if we do not breakout yet, we can see price reacting to current resistance and potentially reaching the 200ma at around 1.03 area.
Note: the forecasts are not necessarily time-sensitive.