AUDUSD - H4

Tuesday, July 21, 2020 4:26 PM

In the AUDUSD currency pair, we see in the 4-hour chart that the price is moving in an upward trend. To identify the trend, we can easily understand the market trend by drawing a trend line. The beginning of this trend line is exactly 3 months ago on May 17th. The price has hit this support line several times in 3 months, but each time it has failed to cross this line. Also in this currency pair, we had a 2-month resistance that was broken due to economic pressures. Also, the price has crossed the resistance of 0.7074. Therefore, we can expect the price to rise to 0.7353.