WEEKLY ANALYSIS of AUD/USDsteemCreated with Sketch.

in #money7 years ago (edited)

Hellllo! steemians after introducing myself I actually didn't do a post regarding the trading aspect so here is my analysis of the AUD/USD forex pair ( the current price of the pair is

P.S: For final verdict scroll to last line if u want to understand the analysis part read the post :)

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The price was staying in a value area ( HIGHLIGHTED RED BOX) for 7 trading days and on 27th of July price broke from that value area and tested the 0.8000 weekly resistance level and it didn't find much demand in that area so it got rejected and retested the value area and again went up to see but didn't find enough demand to go up so it made a LOWER HIGH showing weak upside momentum. and the price also broke a trendline but with not much force.

I'm expecting the price to fall if it BREACHE's the 0.79600 mark otherwise it'll bounce by the support of the trendline and then go to the levels of 0.81000 levels

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