Breaking News

AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.7532, 0.7560, 0.7600

Key Support Levels: 0.7466, 0.7415, 0.7400

Daily Chart:

The price on the higher time frame posted an engulfing bullish pattern near the strong support around the 0.7410 USD mark. This led to a reversal and to a move upward which shows that the buyers are overwhelming the sellers and we might see the price rallying soon.

AUD/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price managed to break the bullish descending wedge to the upside. A lower correction is about to finish around the highlighted zone. This could lead to a reversal and a move to the upside toward the target profit.

Signal Idea:

Buy Limit Order @ 0.7466

TP 1 @ 0.7532

TP 2 @ 0.7560

Stop Loss @ 0.7440

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.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!

Free Robot!