Technical analysis of AUD/USD 06/12/2020

The currency pair of Australian Dollar to US Dollar AUD/USD has fixed above the level of 0.6700 (MA200) and is developing an upward movement in the channel.

Currently, the price is consolidating around 0.6900, after a pullback from resistance at 0.7050. The technical picture shows “Head and Shoulders” figures with a projection of growth potential to the level of 0.7400. Cancellation of the upward movement variant as part of the development of the figure will be a decrease in quots below 0.6650, which mean breaking through the lower border of the rising channel and (MA200) on the daily chart.


Created by Joshua Hayn

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