Cabana Capitals Blog Technical Analysis Possible breach of resistance level by AUDUSD

Possible breach of resistance level by AUDUSD

April 8, 2024April 8, 2024| cabana-admincabana-admin| 0 Comment| 10:14 pm
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AUDUSD was identified at around 0.66102 having recently rebounded of the support on the 4 hour data interval. Ultimately, the price action of the stock has formed a Rising Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 0.6656 level.

Supported by Upward sloping Moving Average

Target: 0.6656 Entry: 0.661 Stop: 0.6559

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