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AUD/USD: 1-hour
As my main man Pip Surfer would say, the surf's up on the Aussie, baby! AUD/USD has been trading higher, as it's been stuck within a rising channel. That may all come to an end soon though, as the pair is now approaching resistance at the 1.0450 level. If we see a solid candle close above the former high, it could signal a stronger move up to former highs at 1.0500 and 1.0600. On the other hand, if resistance holds strongly, I wouldn't be surprised if we see a break of the channel and price action retest former lows at 1.0350.
As my main man Pip Surfer would say, the surf's up on the Aussie, baby! AUD/USD has been trading higher, as it's been stuck within a rising channel. That may all come to an end soon though, as the pair is now approaching resistance at the 1.0450 level. If we see a solid candle close above the former high, it could signal a stronger move up to former highs at 1.0500 and 1.0600. On the other hand, if resistance holds strongly, I wouldn't be surprised if we see a break of the channel and price action retest former lows at 1.0350.
