AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.72255, 0.73115, 0.74000.
Key Support Levels: 0.72262, 0.71360, 0.71000.
The price on the higher time frame failed to break the strong daily support around the 0.72262 USD mark and reversed higher leaving a fake breakout behind. We expect the market to move upward toward the next key level 0.73115 USD.
AUD/USD Medium-Term Trend: Bullish
On the lower time frame, the pair posted a double bottom formation which shows that the buyers managed to reverse the price and move it to the upside. We expect a lower correction to the 0.72262 zone before a new impulsive wave toward the target profit.
Buy Limit Order @ 0.72273
TP 1 @ 0.73088
TP 2 @ 0.73115
Stop Loss @ 0.71883
Trade Safely 🙂