💱 AUDUSD - Fundamental factors can strengthen the price
AUDUSD is breaking resistance and thus indicating a priority trend. The expected data from NFP may strengthen the currency pair.
TA on high timeframe:
1) The fundamental backdrop promises to be negative for USD, hence the currency pair may strengthen
2) The trend is neutral as the price is between 0.68000 and 0.65770
TA on the low timeframe:
1) Price breaks the main downtrend
2) A local bullish price channel is forming.
3) The price breaks the resistance of the local channel and returns to the retest of support
4) The news may have a positive effect on the currency pair, and thus the price may grow from the level of 0.67170 towards 0.68000
Key support: 0.6717-, earlier broken channel boundary
Key resistance: 0.67717
TA on high timeframe:
1) The fundamental backdrop promises to be negative for USD, hence the currency pair may strengthen
2) The trend is neutral as the price is between 0.68000 and 0.65770
TA on the low timeframe:
1) Price breaks the main downtrend
2) A local bullish price channel is forming.
3) The price breaks the resistance of the local channel and returns to the retest of support
4) The news may have a positive effect on the currency pair, and thus the price may grow from the level of 0.67170 towards 0.68000
Key support: 0.6717-, earlier broken channel boundary
Key resistance: 0.67717
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