AUDUSD ahead of a strong resistance
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AUDUSD is due to correction from technical prospective.
Stochastic is extremely overbought and price is just at resistance from the last year. Traders might take profit and walk away from the recent strong up move driven by predominantly increase in commodity prices.
I expect smaller correction toward Yearly pivot and then double top before we break this resistance line.
AUDUSD is due to correction from technical prospective.
Stochastic is extremely overbought and price is just at resistance from the last year. Traders might take profit and walk away from the recent strong up move driven by predominantly increase in commodity prices.
I expect smaller correction toward Yearly pivot and then double top before we break this resistance line.