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The AUD/USD pair registered strong growth but has now dropped below the uptrend line signaling that the upside movement ended and that the sellers could drag it lower. The uptrend line represented a downside obstacle.
Now, it is moving somehow sideways, the 0.7084 former low represents the new downside obstacle. As long as it stays above it, the rate could resume its growth.
Dropping and stabilizing below 0.7084 may announce a larger downside movement. This is seen as a selling opportunity.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
