AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.75307, 0.75446, 0.76000.
Key Support Levels: 0.75114, 0.74962, 0.74500.
The price on the higher time frame left a huge wick to the downside showing a sell climax and the buyers took control of the market. This was shown by a series of higher highs and lows until it broke the key resistance level (now support). A Correction has been seen to this area where we expect now a new impulsive wave toward the next key resistance level.
AUD/USD Medium-Term Trend: Bullish
5 Mins Chart:
On the lower time frame, the pair succeeded to break the bearish channel formation to the upside after posting a double bottom. A lower correction is expected to the support area before a new impulsive wave toward the target profits.
Buy Limit Order @ 0.75117
TP 1 @ 0.75283
TP 2 @ 0.75446
Stop Loss @ 0.75034
Trade Safely 🙂