AUD/USD – 30M – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 0.61307 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 0.62070 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Matching Low’ chart pattern is discovered. The candles show ‘Matching Low’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.62358 |
| 2nd High | 0.62191 |
| Next High | 0.62070 |
| Current Price | 0.61725 |
| Next Low | 0.61307 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – AUD – AUD/USD – USD – Matching Low