The price moves within the yellow and green channels. There are various options for how the market will behave in the near future. It is likely that soon we will see the market reach the upper green bound near the resistance level of 0.685. Then the price may make a start from this bound and start moving down to the support level of 0.667, which is on the lower yellow wall. Then, if this level is broken below, the decline may continue to the next support of 0.644. However, in the case of a break above resistance of 0.685, we can see the market rise to the upper yellow bound and resistance of 0.690.SimpleFX AUDUSD Chart Analysis: October 18, 2019
The price moves within the yellow and green channels. There are various options for how the market will behave in the near future. It is likely that soon we will see the market reach the upper green bound near the resistance level of 0.685. Then the price may make a start from this bound and start moving down to the support level of 0.667, which is on the lower yellow wall. Then, if this level is broken below, the decline may continue to the next support of 0.644. However, in the case of a break above resistance of 0.685, we can see the market rise to the upper yellow bound and resistance of 0.690.
Share
