My Current Active Open Trades: EURUSD, EURGBP, AUDUSD, AUDNZD, XAUTHB
AUDUSD – Sitting At Major Resistance Zone (daily chart)
For almost a year, the Aussie has been unable to make a daily close above a key resistance zone between 77 and 7825. We’ve talked about this zone in prior commentaries and the market still hasn’t cleared it.
Currently the price action is sitting right below this zone and I’m starting to see some weakening heading into it as the pair struggles to make new highs while more bear closes emerge.
For now I’ll have a MT neutral bias while below this zone, so am open to looking at short trades here until this zone folds. If it doesn’t break, then …... Keep reading