AUDUSD currency pair in the H4 chart.
It is important to recognize the bullish channel that started forming in the final weeks of 2020. Since then, the price has been acting in an uptrend, always making higher highs.
Now, support is found at 0.7750 (green rectangle). We can see that the price cannot retreat from this level by attempting this several times, which means that an upward movement can be seen in the following candles.
It is important to recognize the bullish channel that started forming in the final weeks of 2020. Since then, the price has been acting in an uptrend, always making higher highs.
Now, support is found at 0.7750 (green rectangle). We can see that the price cannot retreat from this level by attempting this several times, which means that an upward movement can be seen in the following candles.