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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7897, 0.7929, 0.8007

Key Support Levels: 0.7837, 0.7803, 0.7763

Daily Chart:

The price on the higher time frame is posting higher highs and lows and managed to break the strong resistance around the 0.7803 USD mark. A lower correction has been posted to this level which is now a support. Further movement to the upside might be seen in the coming hours.

AUD/USD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame the pair trading above the resistance where the price entered a parallel channel. We expect a breakout to the upside and a rally all the way up to the target profit.

Signal Idea:

Buy Limit Order @ 0.7840

TP 1 @ 0.7896

TP 2 @ 0.7929

Stop Loss @ 0.7821

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.

One comment

  1. Hello

    The buy limit order @ 0.7840 on AUDUSD is not triggered yet.
    Is still valid? And eventually until when?
    Thanks

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