AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.73804, 0.74305, 0.74400.
Key Support Levels: 0.73161, 0.72877, 0.72615.
Daily Time Frame:
The price on the higher time frame succeeded to break the bearish trendline to the upside after posting higher low. The market retraced to a strong demand zone where it posted an engulfing bullish pattern on this level. This could lead to a move upward in the coming hours.
AUD/USD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trend line to the upside after a double bottom formation. A lower correction has been posted to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.
Buy Market Order @ 0.73302
Target Profit 1 @ 0.73804
Target Profit 2 @ 0.74305
Stop Loss @ 0.72799
Trade Safely 🙂