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Australian Dollar technical forecast: AUD/USD eyes trend resistance
The Australian Dollar rallied more 3.6% off the March / yearly lows with AUD/USD now approaching key resistance at the multi-year downtrend. The battle-lines are drawn heading into the April close. These are the updated targets and invalidation levels that matter on the AUD/USD weekly technical chart. Technical Outlook: In last month’s Australian Dollar technical forecast we noted that AUD/USD had, “plunged five of the past six-weeks with a break below the yearly-open taking price to multi-month lows. From a trading standpoint, rallies should be capped by the upper parallel the IF Aussie is heading lower – look ... (full story)
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- Posted: Apr 19, 2023 11:13am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 765
