Subscribe To
AUDUSD failed on a break outside of "Red Box" to the downside. Sellers forced to cover.

The AUDUSD broke lower yesterday, and in the process fell below the floor area near the 0.63567 – 0.6364 area. That floor area was the low of what has been a up-and-down consolidation area (see "red box" on the chart below). The upper extreme was up toward the 0.65214 level. The price has been trading within this range for the last 7 trading weeks. As a result of the break, the price extended outside of the "red box", which should have led to lower prices. Indeed it did for a little while with t...
Read More
Posted: Sep 28 2023, 14:33
Author Name: forexlive
Views: 083155