12:44 PM · 14 July 2020

Technical alert: AUDUSD

AUDUSD has been trading in a sideways move recently. The pair bounced off the lower limit of consolidation range today, which may herald another test of the upper limit of the aforementioned range (0.7000). Nevertheless as long as the price stays between 0.6925 and 0.7000, continued range trading looks to be the base case scenario. Breakout from the range could signal a bigger move.

AUDUSD H1 interval. Source: xStation5

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