American dollar has been weakening after non-farm payrolls data which were published on Friday. AUDUSD returned above 0.7370 and today the price is continuing upward movement. Next goal for demand is located at 0.7500.
However, be careful and look at weekly time-frame. For three years AUDUSD has been moving in the bearish regression channel. Currently upper limit of that channel is located at 0.7700 – 0.7750 (we can’t indicate it more precisely because of the wide time-frame ). Right now the main scenario for AUDUSD is upward movement to the last mentioned area and there rebound.
YOU CAN START TRADING ON FOREX MARKET USING FREE XM BROKER ACCOUNT.
Time-frame D1
Time-frame W1
