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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7803, 0.7885, 0.8007

Key Support Levels: 0.7705, 0.7662, 0.7590

Daily Chart:

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

1-hour Chart:

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.

Signal Idea:

Buy Market Order @ 0.7753

TP 1 @ 0.7802

TP 2 @ 0.7885

Stop Loss @ 0.7729

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

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