AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.71713, 0.72232, 0.73000.
Key Support Levels: 0.71118, 0.70921, 0.70632.
1-Hr Time Frame:
The price on the higher time frame failed to break the strong support zone around the 0.7110 USD mark and left a fake breakout (highlighted in a yellow rectangle). The market reversed and moved higher where higher lows has been posted showing that the market is controlled by buyers.
AUD/USD Medium-Term Trend: Bullish
15-Mins Time Frame:
On the lower time frame, the price managed to break the bearish channel formation to the upside where a double bottom has been posted at the lower end of the channel. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 0.71112
TP 1 @ 0.71713
TP 2 @ 0.72232
Stop Loss @ 0.70813
Trade Safely 🙂