AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.72472, 0.72674, 0.73138.
Key Support Levels: 0.71471, 0.71112, 0.70924.
Daily Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after finding buyers below the support level around the 0.71400 USD mark. So, the break of the structure shows that there is a potential of a reversal and a move to the upside.
AUD/USD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the buyers succeeded to break as well the bearish trendline where a double bottom has been posted which is represented by a higher low. This shows that the buyers are in clear control of the market and might push the price all the way up.
Buy Limit Order @ 0.71442
Target Profit à Trailing Stop
Stop Loss @ 0.71002
Trade Safely 🙂