In the past days, AUDUSD has been following a sideways chart pattern moving around 0.6811 - 0.6564... Recently, price broke below the immediate support @ 0.6564 giving a breakout of the support level
After this successful breakout, price is pushing up to retrace this support level. Upon a successful retracement, the support zone then becomes a resistance for the price
If price does not break and close above this resistance level, price has the potentials to push down to the major support @ 0.6177
After this successful breakout, price is pushing up to retrace this support level. Upon a successful retracement, the support zone then becomes a resistance for the price
If price does not break and close above this resistance level, price has the potentials to push down to the major support @ 0.6177