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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7195, 0.7251, 0.7331

Key Support Levels: 0.7091, 0.6992, 0.6950

Daily Chart:

The price on the higher time frame has been consolidating after a bearish run and it made a range of 0.6865 and 0.6991 the upper range is now broken with momentum and the price has sustained above that which indicates a 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 broke the upper range of a consolidation zone with good momentum and has sustained above that. It has now broken and retested a minor level of 0.7091 before continuing the momentum. 

Signal Idea:

Buy Stop Order @ 0.7139

TP 1 @ 0.7192

TP 2 @ 0.7245

Stop Loss @ 0.7086

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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