Retest of "Mirror" Resistance on AUD/USD

Retest of Mirror Resistance on AUD/USD

The AUD/USD currency pair has become stable after prolonged growth. Aussie is currently consolidating. There is no defined trend. The current technical pattern signals a possible correction of quotes. The AUD/USD currency pair is testing a "mirror" resistance of 0.6635. The nearest support is 0.6590. We recommend paying attention to this situation.

If the price fixes below 0.6590, AUD/USD quotes are expected to correct. The nearest goal for profit-taking is the level of 0.6550. The movement is tending to 0.6510-0.6470. Confirmations and market entry points should be looked for on lower timeframes. When following positions, we recommend using a trailing stop.

by JustForex 2020.05.28

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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