Some Monday Morning Aussie!

April 3, 2017

Ah Monday morning. Nothing better if you’re a trader!

Open up your Vantage FX MT4 platform and let us know what stands out to you with a mention to @VantageFX on Twitter.

For me, with price still at resistance, at some stage this week we’re definitely going to see the Aussie Dollar come into play to wanted to feature the charts to kick off the week.

Now we’ve spoken about these particular Aussie resistance levels on the blog before but added this obvious trend line that price is creeping along.

AUD/USD Daily:
160403_audusd_daily
Click on chart to see a larger view.

But first up, the daily is all about the horizontal resistance zone. Touch after touch after touch and still price flirts. Make of that what you will.

You’re either a trader that believes so long as we’re under the level then it’s a sell. Or you’re looking to buy as each touch potentially weakens the resistance level.

AUD/USD 4 Hourly:
160403_audusd_4hourly
Click on chart to see a larger view.

Zooming into the 4 hourly chart, this short term trend line support level can definitely be used to help make the decision.

Which way is it for you?

Make sure you’re able to take advantage of market opportunity in the Aussie with a Vantage FX live account.

Dane Williams – @VantageFX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, forex news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the Forex account of the reader. We always aim for maximum accuracy and timeliness, and FX broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

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