AUDUSD Forex Signal: Bulls Testing Descending Trend Line
which was holding the price, suggesting that the best opportunity which could set up here over the day was a long from another rejection of the level at 0.6848. This did not set up – the price held within the triangle until the Asian session, when it fell strongly enough to cleanly break through that support level.The minor risk rally seen over recent hours has pushed the price up close to the long-term descending trend lineThe RBA is expected to shortly hike its interest rate by 0.50%.
On the other hand, if the price rises after the RBA’s release and holds up for a few hours above the resistance at 0.6915, that would be a significant bullish breakout and suggest the beginning of a stronger bullish price movement.according to whether you want to strengthen your self-confidence before depositing real funds with a suitable Forex / CFD broker.
Concerning the AUD, there will be a release of the RBA’s Cash Rate and Rate Statement at 5:30am London time. There is nothing of importance scheduled today regarding the USD.
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