• Jan 10, 2025
  • Trade ideas

AUDUSD: Falling Wedge!

AUDUSD, H4

AUDUSDH4.png

AUDUSD is in the decline and currently navigating within a falling wedge.

The price is testing the crucial 0.6180 support zone, while the UsDollar strengthened, so two scenarios possible:

  • If the price bounces from the 0.6180 support it may rise to the upper border at the 0.6255 level.
  • However, breaking below the 0,6180 support will trigger a decline toward 0.6100.
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul