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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7317, 0.7374, 0.7425

Key Support Levels: 0.7223, 0.7194, 0.7166

Daily Time-frame:

The price on the higher time frame has finally broken the resistance level of 0.7231 that we were watching closely. We have seen many rejection wicks from the downside and the pair is showing momentum in the move.

AUD/USD Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price was trading in a range between 0.7223 and 0.7166. We saw that price broke the range previously but then there was a big move due to increased volatility across the market. As of now, price has broken that range again and sustaining above the support zone of 0.7247

Signal Idea:

Buy Stop Order @ 0.7271

TP 1 @ 0.7301

TP 2 @ 0.7333

Stop Loss @ 0.7240

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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