1-Hour Chart Analysis
1-Hour Chart Analysis
The 1-hour chart for AUD/USD shows the pair trading within an ascending channel. The price is currently near the upper boundary of the channel, which suggests potential resistance.
Key observations:
Ascending Channel: The price is respecting both the upper and lower boundaries of the ascending channel, with multiple touches confirming the pattern.
Potential Retracement: There's a possibility of a retracement to the lower boundary of the channel, around 0.6760, before a potential bounce back to higher levels.
Target Levels: Immediate resistance is around 0.6800, with potential upside targets at 0.6820 and 0.6860 if the pair continues to move higher.
The 1-hour chart for AUD/USD shows the pair trading within an ascending channel. The price is currently near the upper boundary of the channel, which suggests potential resistance.
Key observations:
Ascending Channel: The price is respecting both the upper and lower boundaries of the ascending channel, with multiple touches confirming the pattern.
Potential Retracement: There's a possibility of a retracement to the lower boundary of the channel, around 0.6760, before a potential bounce back to higher levels.
Target Levels: Immediate resistance is around 0.6800, with potential upside targets at 0.6820 and 0.6860 if the pair continues to move higher.
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