The market continues to grow rapidly within the bounds of the yellow and green channels. It is likely that in the near future we will see the rise of the currency pair to the upper bound of the green channel and the nearest resistance level near 0.704. In favor of this scenario, the fact that the price is well above the moving average, so the bulls have great potential. However, if we see a break below the lower bound of the green channel and the support level of 0.689, the bears will open the way to the lower wall of the yellow channel and the support of 0.682.Australian Dollar is Growing Fast. What Will Happen Next?
The market continues to grow rapidly within the bounds of the yellow and green channels. It is likely that in the near future we will see the rise of the currency pair to the upper bound of the green channel and the nearest resistance level near 0.704. In favor of this scenario, the fact that the price is well above the moving average, so the bulls have great potential. However, if we see a break below the lower bound of the green channel and the support level of 0.689, the bears will open the way to the lower wall of the yellow channel and the support of 0.682.
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