AUD to USD Trading Analysis 13-07-21:
As we can see in the H4 chart, AUD to USD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 2/8
, break it, and then continue moving downwards to reach the support at 1/8
. However, this scenario may be canceled if the price breaks 3/8
to the upside. After that, the instrument may reverse and grow towards the resistance at 4/8
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.