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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7282, 0.7378, 0.7461

Key Support Levels: 0.7204, 0.7165, 0.7114

Daily Chart:

The price on the higher time frame has shown a few rejections from the downside. The pair has also broken the upper trendline and is moving in the bullish direction after the retest. We expect the price to pick momentum and continue the move.

AUD/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in a higher-high, higher-low formation and recently broke a resistance level of 0.7221 and did a retest. We expect the pair to maintain a bullish move as long as it respects the trendline.

Signal Idea:

Buy Stop Order @ 0.7242

TP 1 @ 0.7268

TP 2 @ 0.7309

Stop Loss @ 0.7216

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

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