In this video update, we take a look at the AUDUSD as it found support back at the key demand zone 0.7050.
Seasonally the value of the Australian Dollar increases through March and April significantly against its counterparts
and with price finding support currently, we can expect prices to continue to push higher in the short-term.
The 4hr chart currently looks to be forming an inverse head and shoulders pattern and if price can break the neckline
to form a higher high, we could look for long opportunities back at the neckline support. Short-term targets
will be back up towards the key 0.7150 trendline resistance.
Seasonally the value of the Australian Dollar increases through March and April significantly against its counterparts
and with price finding support currently, we can expect prices to continue to push higher in the short-term.
The 4hr chart currently looks to be forming an inverse head and shoulders pattern and if price can break the neckline
to form a higher high, we could look for long opportunities back at the neckline support. Short-term targets
will be back up towards the key 0.7150 trendline resistance.