The Bull May Make Another Move

2022년 10월 29일

AUDUSD made a good bullish move as we anticipated last week. The pair had a rejection at 0.65250 and made a bearish correction. The pair closed its trading week right at the level of 0.64050. The H4 chart shows that the price reacted at this level several times. Thus, the level may hold the price as a level of support and push the price towards the North again. The buyers may keep their eyes in the pair to get a bullish reversal pattern to take long entries. The pair may find its next resistance around 0.65250 again. A bullish breakout at that level may push the price towards the level of 0.66800.
On the other hand, a bearish breakout at the level of 0.64050 may drive the price towards the South. The price may find its next support around 0.63300. In that case, the sellers may wait for the price to consolidate or make a bullish correction followed by a bearish reversal pattern to find some short opportunities.
Considering both charts, it seems that the Bull may dominate in the pair next week.