AUDUSD: Hanging Resistance Controls the Price range.
Hello traders,
The AUDUSD continues to struggle to justify its strength, even after the downturn successfully reversed from December 2018 until January 2019. When the pair crosses 0.7120 daily, it has to exceed 0.7155-60 resistance and six-week descending trend line to achieve a further TL resistance figure of about 0.7200. Moreover, 0,7210 is likely to add to the burden of the bulls if they are to conquer about 0,7300 last-0,7200 for 2019. At the bottom level lower than 0.7050 reminiscent of 0.7000 round figure on the chart. But the number of vendors could then be 0.6980.
The AUDUSD continues to struggle to justify its strength, even after the downturn successfully reversed from December 2018 until January 2019. When the pair crosses 0.7120 daily, it has to exceed 0.7155-60 resistance and six-week descending trend line to achieve a further TL resistance figure of about 0.7200. Moreover, 0,7210 is likely to add to the burden of the bulls if they are to conquer about 0,7300 last-0,7200 for 2019. At the bottom level lower than 0.7050 reminiscent of 0.7000 round figure on the chart. But the number of vendors could then be 0.6980.
