|AUD/USD : Exit of the medium term bullish channel|
The pair AUD/USD got out at the end of the last week of its medium term bullish channel (purple lines) and just broke the support at 1.04, giving us a sell signal.
We advise to trade only short positions as far as 1.0450 is resistance. The breakout of 1.0350 will give a new sell signal and will open the way towards 1.03. This bearish scenario is reinforced by a bearish channel on h1 (brown lines).
In case of return above 1.0450, we will be neutral between this level and 1.05.
|Complete sheet of the pair AUD/USD - Previous AUD/USD Analysis|
|Chart of the pair AUD/USD - Timeframe 4H|
|Chart of the pair AUD/USD - Timeframe 1H|