
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
2019-11-11 • Updated
The last 'V-Bottom' pattern led to the beginning of the current upward correction. At the same time, there's a 'Thorn' pattern, so we could have a local downward correction in the coming hours. Thus, the market is likely going to test the closest support at 0.7022. This level could be a departure point for a bullish price movement towards another resistance at 0.7071 - 0.7086.
AUD/USD has been trying to break higher for an extended period but without any chance. From April until today, all rallies’ attempts have faded as shown on the daily chart.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
Will the weakness of the USD let the AUD take advantage of it?
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