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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.6989, 0.7050, 0.7105

Key Support Levels: 0.6893, 0.6803, 0.6718

Daily Chart:

The price on the higher time frame has recently reversed the direction after facing support at the 0.6710 level. It has formed a rejection wick and also broken the trendline along with a resistance level of 0.6851 which indicates bullish bias.

AUD/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has been trading in a range of 0.6718 and 0.6803 for some time and recently the upper range was broken. It has also broken and retested another level of 0.6893  

Signal Idea:

Buy Stop Order @ 0.6933

TP 1 @ 0.6982

TP 2 @ 0.7080

Stop Loss @ 0.6884

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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