LONG bias @.6889
AUDUSD has been in a strong uptrend.
After breaking through the 200 SMA buyers quickly drove up the price piercing the 500 SMA on June 3rd, ultimately reaching a recent high near 0.0706.
June 11 it fell below the 500. 2 days later it was retesting the 500 before going through 4 more days of rejection. After the break and retest of the 500 to the downside, on both instances the pair found buyers with volume in the accumulation area of .680 -.683
The pair has now resumed its strength to the upside and after tomorrows close above today's we'll have confirmation. Upwards targets of 0.704, & .711. If it doesn't break the 500 here after a 2nd retest then your downside targets are .680, .6729, & .666.
AUDUSD has been in a strong uptrend.
After breaking through the 200 SMA buyers quickly drove up the price piercing the 500 SMA on June 3rd, ultimately reaching a recent high near 0.0706.
June 11 it fell below the 500. 2 days later it was retesting the 500 before going through 4 more days of rejection. After the break and retest of the 500 to the downside, on both instances the pair found buyers with volume in the accumulation area of .680 -.683
The pair has now resumed its strength to the upside and after tomorrows close above today's we'll have confirmation. Upwards targets of 0.704, & .711. If it doesn't break the 500 here after a 2nd retest then your downside targets are .680, .6729, & .666.