And so, the positive sentiment of the Australian has weakened a little, and this may lead to a drawdown. However, the key support at 0.73255 is unlikely to be threatened (even stronger support may be provided by the 0.72385 - 0.72695 zone).
The current resistance is at 0.73980. Despite this, the currency is likely to consolidate and trade in the 0.73255 - 0.73980 range. Only a close below 0.73255 (on the daily chart) would indicate the start of a deeper pullback. At this stage, the outlook for AUDUSD to close below 0.73255 is low.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
The current resistance is at 0.73980. Despite this, the currency is likely to consolidate and trade in the 0.73255 - 0.73980 range. Only a close below 0.73255 (on the daily chart) would indicate the start of a deeper pullback. At this stage, the outlook for AUDUSD to close below 0.73255 is low.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
