AUDUSD are we in for another buy?
Updated
I see that this move is probably another move up if we continue to hold .6900
Right now we are holding above the red ribbon MA's which is acting as support.
At .66 to .67 this looked like bearish consolidation but as we continued in time we got more and more bullish momentum until we broke .6800 and found support 50 pips higher.
If price fails to hold red ribbon support we will fall down to the neckline price at 6825 to test price once more.
Lastly, if we do fall then we can move back to to the bottom for a triple bottom support.
Overall I am bullish long term AUD and the best entrance would be off our rising blue line of support. A break below that will warn bulls that bears might take over again. I don't see this happening. I see us continuing up making 6850 -6870 another solid support floor.
Right now we are holding above the red ribbon MA's which is acting as support.
At .66 to .67 this looked like bearish consolidation but as we continued in time we got more and more bullish momentum until we broke .6800 and found support 50 pips higher.
If price fails to hold red ribbon support we will fall down to the neckline price at 6825 to test price once more.
Lastly, if we do fall then we can move back to to the bottom for a triple bottom support.
Overall I am bullish long term AUD and the best entrance would be off our rising blue line of support. A break below that will warn bulls that bears might take over again. I don't see this happening. I see us continuing up making 6850 -6870 another solid support floor.
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