AUDUSD trapped inside trading range

Trading 16 août 2019 Donner votre avis

AUDUSD is trading inside a trading range between 0.6820-0.6735. Soon a break out above this range will most probably give a 150 pip move towards the breakout direction.

analytics5d55d94a8a699.png

Green rectangles - target

Blue rectangle - support

Red rectangle - resistance

AUDUSD is mainly moving sideways. As long as this situation remains the same, we remain neutral waiting for a signal. Short-term resistance levels are found at 0.6790 and at 0.6820. Support is found at 0.6735. Buying near support and selling near resistance levels could prove to be profitable if price continues to swing like that.

The material has been provided by InstaForex Company - www.instaforex.com

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