The price of AUDUSD has been in a descending channel since February 2021.
At this point, it is testing the resistance imposed by the upper bound of the descending channel (green lines) around $0.74.
If the resistance can't be broken, it may continue its downtrend toward $0.70 (red lines).
At this point, it is testing the resistance imposed by the upper bound of the descending channel (green lines) around $0.74.
If the resistance can't be broken, it may continue its downtrend toward $0.70 (red lines).