Credit: AUDUSD sits above a ceiling area but another trend line keeps another lid on the pair
The AUDUSD has recovered from a gap lower over the weekend and is making new 2016 highs (trades at highest level since June 2015). It is hard to ignore the break. However, there is some topside resistance that has so far stalled the pair.
Will the market find additional upside momentum, or will the break to new year highs fail and the pair rotate back lower? The video outlines the trade and risk defining levels.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
