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AUDUSD – Double Bottom Price Action Creates Two-Way Market
After a small bounce in yesterday’s Asian session forming a double top intra-day. In the same token, it sold off to the prior swing bottom forming a double bottom in the process (1hr chart below).
From here, the Aussie did finally find some buying strength, and took out the 9050 double top resistance with ease, making a new swing high and thus injecting some two-way direction into this market.
For now, short term the impulsive price action momentum is slightly with the bulls after taking out 9050, but it still needs to clear 9112 near term to bring in more to the party.
For now, watch these two levels …... Keep reading