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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.
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