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AUD/USD Potential Upward Movement

AUD/USD Long-Term Trend: Bullish

Key Resistance Levels: 0.74141, 0.74800, 0.76071

Key Support Levels: 0.73390, 0.72383, 0.72300

Daily Chart:

The price on the higher time frame the price is traded between two key levels which are the support and resistance with the values respectively 0.73390 & 0.74141 USD. The price is trying to reverse after a series of lower lows and highs.

AUD/USD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price succeeded to break the bearish channel formation to the upside. It retraced to the higher zone around the 0.73614 USD where we expect a move higher in the opposite direction of the main trend.

Signal Idea:

Buy Limit Order @ 0.73614

TP 1 @ 0.74128

TP 2 @ 0.74141

Stop Loss @ 0.73446

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.

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