AUDUSD is reaching the resistance of the descending channel shown, waiting for a bounce back to resume trading within this channel, where the SMA constitutes 50 negative pressure to support the continuation of the main bearish trend, while Stochastic is showing overbought now.
Therefore, we believe that chances are available …
Analysis based on round-number levels, price channels and modified Elliot Waves
The overall movement is upward. The pair is trading in the range of 365 and 150 moving averages. Bullish divergence has formed on Awesome Oscillator indicator, and the Stochastic Oscillator indicator shows an exit from the oversold zone. Breaking …
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