AUD/USD price on daily chart reaches top line of trend channel and resistance level. Overall sentiment on the market for this currency pair is bearish. I would recommend to wait until price will show more confidence for trend reverse or you can simply place short positions for the short period of time.
Monthly chart shows potencial trend reverse however price may have a little pullback (good for temporary short positions) before trend totally reverse.
Therefore there is a chance that price will break even resistance level without pullback. Deep inside i believe that price has to be rejected one time before it break even resistance.
Note: For more detailed technical analysis please contact me by email kraucionisd@gmail.com
Information provided in this article is not a signal or recommendation for any trading/investment decisions. This is only my personal opinion and point of view.
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