MattWalz

AUDUSD bullish cycle ahead?

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
4
After a clear breakout of the weekly descending TL, the 8ema signal line (blue) is about to cross to the upside with momentum offering indication of a potential uptrend. Since price has rejected the 0.770 even handle numerous times in the past year, I will be waiting for a break and retest of that zone before confirming a long term bullish bias. If we see a break of that zone price has a clear way to the 0.800 even psychological handle.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.