Daily Price Action

AUDUSD Rejecting Key Level on the 4 Hour Chart


The four hour bar just closed, and it appears price action on the AUDUSD is respecting new support. The daily chart has been in an uptrend since late January, and if the uptrend is to continue we may see a retest of the .942 level in the coming days.

We’ll have to keep an eye on how the daily chart closes, but for now the pair seems to be well supported.

See the second chart for the bullish pin bar on the daily time frame that started this rally.

audusd 4 hour chart

AUDUSD bullish pin bar on the daily chart

audusd daily chart

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