The AUD/USD
consolidation lasted for quite a while, starting around February and did not
end until today when the pair finally broke above the resistance around 0.7880.
I don’t know about you, but when consolidation lasts this long sometimes I
start feeling like it will never end. Obviously that is an irrational feeling caused
by frustration, but any decent trader will tell you that frustration is an
emotion you just have to learn to deal with.
I think the
pair will most likely continue climbing at least until it reaches 0.8210, where
there is another pretty serious resistance level. Time will tell whether it
will be able to climb even higher than that.
Great assessment. I'll keep a close eye on it.
ReplyDeletevery good post.
ReplyDeleteVery Good analysis. The doubt is large!
ReplyDelete