AUD/USD – 1H – BUYThe pair Australian Dollar/US Dollar (AUD/USD) moves from the bullish trendline down.
A bearish descent down to the next support line at 0.63512 is considered certain.
Caution: A possible change in the direction of resistance at 0.63833 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘On Neck’ candle chart pattern is discovered. The chart forms ‘On Neck’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.64712 |
| 2nd High | 0.64291 |
| Next High | 0.63833 |
| Current Price | 0.63534 |
| Next Low | 0.63512 |
| 2nd Low | 0.63363 |
| 3rd Low |