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120517 AUDUSD

by | May 12, 2017 | AUD/USD | 0 comments

GCMAsia - AUDUSD
AUDUSD
AUDUSD
2017-05-12
Resistance and Support Level Explanation
Resistance 0.7390 H1
Support 0.7370 H1

AUDUSD, H1: AUDUSD remains traded within a sideways channel while currently testing near the upper level of the channel. Recent rebound from the mid-level of the channel suggests AUDUSD to advance further up, towards the target of resistance level at 0.7390 in short-term. Long-term trend direction could only be determined following a successful breakout from either side of the channel.

 

Resistance level: 0.7390, 0.7405

Support level: 0.7370, 0.7350, 0.7335