FX.co ★ AUD/USD

In my brief forecast for Monday for this trading instrument AUDUSD, I expect a further rise of the currency pair to the next resistance level. Most indicators on the hourly timeframe point to growth of the currency pair toward the next resistance level. The overall trend on the 1-hour chart remains bullish. On the 1-hour chart we can see that the AUDUSD currency pair is near the resistance price level of 0.69723. On Monday I expect a breakout of this resistance level 0.69723 and further growth of the currency pair to the next resistance level 0.69918. If this AUDUSD currency pair is able to break through this resistance level 0.69918 and consolidate above it, then I will expect further growth of the currency pair to the next resistance level. But if this AUDUSD currency pair cannot break through this resistance level 0.69918 and consolidate above it, then I will expect a pullback of the currency pair to the support level 0.69412.