AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.7803, 0.7885, 0.8007
Key Support Levels: 0.7705, 0.7662, 0.7590
The price on the higher time frame was in a clear uptrend where the market managed to break the daily resistance around the 0.7705 USD level. This resistance now is acting as a support. We are expecting further movement to the upside in the same direction of the main trend.
AUD/USD Medium-Term Trend: Bullish
On the 1-hr time frame, the price managed to break the flag formation to the upside where It retraced to a strong support by posting an inverse head and shoulders. We are expecting a straight movement upward toward the target profit.
Buy Market Order @ 0.7753
TP 1 @ 0.7802
TP 2 @ 0.7885
Stop Loss @ 0.7729
Trade Safely 🙂