This symbol is at a critical point. The price is currently at the November 2021 high (which could possibly be a resistance) and also seems to be breaking the resistance of the rising channel. Could the resistance hold or would price break above ? Your guess is as good as mine. However, I am more in favour of selling as some of the strength of AUD maybe attributed to rise in iron ore price and currently, the price of this commodity seem to be retreating.
Disclaimer: This is not a a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me.
Disclaimer: This is not a a financial advise. This is my way of sharing my trade ideas with the community and any decisions you make from this is entirely yours and has nothing to do with me.