AUDUSD: will the line hold?

The AUDUSD is standing on the level that really important, as the picture shows below. This level act as the support level, then broke below and now price is retrace back to the level again. This old support level now acts as the new daily resistance level. The daily chart for today is not yet finished, but I will watch closely since there still an opportunity that the price could form a bearish signal like Bearish Engulfing Bar or Bearish Two Bar on the daily timeframe. 

AUDUSD daily chart

audusddaily-161129

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One comment

  1. Gaboga71 · · Reply

    Probably a consolidation part and it will fall…..

    Like

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