As analyzed on my previous AUDUSD Analysis when the pair was at 0.70600, we have seen Bullish Momentum that has broken the 0.71000 Resistance barrier with great momentum.
The Trade Wars between China and the United States have eased increasing the confidence in investors.
this has resulted in a sharp demand with a 0.72000 support forming.
this afternoon we have seen a positive Non-Farm Payroll and an unchanged Unemployment Rate indicating the strength of the United States Economy.
the pair is lingering around the 23.6% n the Fibonacci which is also 0.72000.
looking at the bigger picture, the long term downtrend on the Four Hour Chart has been broken thus I now see a retest with a possibility of a 0.73000 Resistance.
We shall see the continuation this coming week!
The Trade Wars between China and the United States have eased increasing the confidence in investors.
this has resulted in a sharp demand with a 0.72000 support forming.
this afternoon we have seen a positive Non-Farm Payroll and an unchanged Unemployment Rate indicating the strength of the United States Economy.
the pair is lingering around the 23.6% n the Fibonacci which is also 0.72000.
looking at the bigger picture, the long term downtrend on the Four Hour Chart has been broken thus I now see a retest with a possibility of a 0.73000 Resistance.
We shall see the continuation this coming week!