AUDUSD – Heading Towards Key Resistance Zone | Nov 25

AUDUSD – Likely Return to Swing High (4hr chart)
After basing just above the ‘big figure’ at 7000, the Aussie has been building some solid upside ground forming a series of higher lows and highs gaining 8 out of the last 12 days.

I’m suspecting a likely return to the recent range swing high and key resistance zone from October near 7375 where bulls will likely take some profit. Bears wanting to get short could potentially use this as a trade location. A rejection from here should gun for the 72 handle while a break and close above would challenge 7427.

audusd price action

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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