$AUDUSD Forex Signal: The best opportunity is likely to be long from supportive confluence.
June that we had a fairly wide and choppy consolidation pattern playing out between the very big round number at 0.7000 which is acting as resistance, and the nearest support level at 0.6840. I thought that the price would remain between these levels, and it did. In fact, three days later it continues to do so.
The technical picture now remains consolidative but interesting, with the consolidation reinforced by aThe lower edge of this triangle is very close to what looks to be a strong support level at 0.6848the best opportunity which could set up here today would be a long from another rejection of this level at 0.6848If the price does break below 0.6848, and can end the day trading firmly lower, that would be a very bearish sign and suggest a continuing fall to new long-term lows would be likely.
Concerning the USD, there will be a release of Core PCE Price Index data at 1:30pm London time. There is nothing of importance scheduled today regarding the AUD.
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