AUDUSD starting to reverse nicely, watch break of major support

FX:AUDUSD   澳幣 / 美元

AUDUSD is starting to reverse nicely! We are still in an ascending channel that stretches all the way back to December 2017 so only a break of this major channel would trigger a much more bearish move. Right now we’re seeing a close below 0.7988 as the first sign that a possible reversal could be occurring.

RSI (34) sees an ascending support line holding up price really well too. Only a break of this major ascending support line would be the first precursor that a drop might be occurring.

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This analysis is provided as general market commentary and does not constitute investment advice.
Hi Tickmill, please share more of your views, they're helping me a lot :)
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