AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.75581, 0.76388, 0.74000.
Key Support Levels: 0.74776, 0.74007, 0.73709.
Daily Time Frame:
The price on the higher time frame could not continue its move to the downside and faced a strong resistance which led to the formation of the double bottom pattern. A reversal occurred and the price is about to move higher again in the same direction of the main trend.
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 higher low 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 @ 0.74776
Target Profit 1 @ 0.75581
Target Profit 2 @ 0.76388
Stop Loss @ 0.73971
Trade Safely 🙂