AUD/USD Long-Term Trend: Bullish
Key Resistance Levels: 0.7705, 0.7805, 0.8005
Key Support Levels: 0.7662, 0.7590, 0.7463
The price on the higher time frame was in a clear uptrend since it is trading inside a bullish channel formation. Lately, the price entered inside a bullish flag formation where it managed to break it to the upside and we expect a continuation of the main trend to the upside.
AUD/USD Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a wedge pattern, and we could see a consolidation near the lower end of this wedge. A break of this pattern occurred; we most probably see a lower correction to the 0.7662 USD mark before the move upward.
Buy Limit Order @ 0.7666
TP 1 @ 0.7748
TP 2 @ 0.7805
Stop Loss @ 0.7625
Trade Safely 🙂