Price on the daily chart of the AUDUSD is now as I write this blog post testing the daily resistance area. Price has been roaring higher off late on this pair with price moving higher of it’s double low to create a new up-trend for price action traders to take note of. Price has recently broken a key resistance area that could be critical for where price goes in the coming days and weeks for this pair.
If this old resistance area now holds as a price flip area and becomes a new support area it could be a high probability area for traders to target long trades to get into this new up-trend at a logical support level within the obvious trend. Price would need to stay above this new support level and for a trade to be confirmed a solid price action signal would need to present at this quality area in the new up-trend.
AUDUSD Daily Chart
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