Title
AUDUSD 1H | Bullish Continuation
Type
Bullish Trend
Preference:
The price is falling toward the pivot level at 0.6249, signaling potential bullish momentum. A continuation of this move could drive the price toward the 1st resistance at 0.6289, which aligns with a key swing-high resistance level.
Alternative Scenario:
If the price breaks below the pivot level, it may drop towards the 1st support at 0.6220, which is an overlap support level.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.