Hi traders,
As USD is overall bullish and AUDUSD is reaching its first daily resistance at 0.7150. I am expecting it to reverse back down, moving averages have crossed over on 30 minute time frame so this looks like a good point of entry. Please watch price action and a recommended stop loss would be around 0.7170 as that's the previous high and looks like a head in head and shoulder pattern. Money management is important so place your stop loss according to your risk and reward ratio.
As USD is overall bullish and AUDUSD is reaching its first daily resistance at 0.7150. I am expecting it to reverse back down, moving averages have crossed over on 30 minute time frame so this looks like a good point of entry. Please watch price action and a recommended stop loss would be around 0.7170 as that's the previous high and looks like a head in head and shoulder pattern. Money management is important so place your stop loss according to your risk and reward ratio.