Blog // Latest news and discussions

The AUDUSD acted out its role Wednesday that was scripted perfectly in yesterdays report.  Now the question is what is the next act.  In act one the pair bounced of channel resistance and moved down to support at 1.0460.  The cross bounce at this level in Asian trading ahead of the ECB or consolidation could be in the cards.  following the ECB announcement resistance will begin at the top of the channel at 1.0570.  If that level is broken the pair could push towards 1.0630.  If the ECB disappoints a move down towards 1.0320 could play out.

Sup   1.0460            1.0320

Res     1.0570