AUD/USD just the other day flushed through the yearly low, very nearly tagging the big 7000 level. The flush and reverse has the outlook neutralized at worst for now. If the low in September and channel on the 4-hr time-frame can be broken, then look for the neutral outlook to firm up towards bullish.

For those short from higher levels, they may want to use a confirmed break higher to button up trailing stops, while would-be longs could use a break above resistance to key in on entries that take advantage of further strength off the recent lows.

See the video above for the full details…

AUD/USD 4-hr Chart

AUD/USD 4-hr chart

AUD/USD Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

—Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX


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