In yesterday's analysis, I expected AU to have an upwards breakout of the falling wedge pattern, which was exactly what the market performed. In today's trading session, I will remain neutral bias. Two scenarios that I'm looking at
1. If price breaks above the 0.7724 minor resistance zone, that provides a potential retracement entries with 0.7820 minor resistance zone as the initial target (Bullish)
2. If there's any sudden bearish momentum stepping into the market, that could send AU back towards 0.7634 support zone (5th - 9th March low)
The higher timeframe picture remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If price breaks above the 0.7724 minor resistance zone, that provides a potential retracement entries with 0.7820 minor resistance zone as the initial target (Bullish)
2. If there's any sudden bearish momentum stepping into the market, that could send AU back towards 0.7634 support zone (5th - 9th March low)
The higher timeframe picture remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.