Hello Price Action Traders.
The AUD/USD has found a really tough area to break at 0.94100/400 failing to make new highs. The VIX is rising and also the concerns in the Middle East. The breakout of 0.94100 that we were expecting was not so convincing after all. The Aussie is now touching the bullish trendline, a dynamic support that has been touched already 5 times. Ideally, a breakdown of the bullish trendline could push down the pair towards the near bearish trendline.
It’s all for today
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Luigi, professional trader member of HereForexNaked.com