AUDUSD Long idea
This pair has been very bullish recently and last week we saw our monthly zone break around 0.70800
Currently we are seeing a retrace and price action is now testing the 0.70800 as support. We are now looking for bullish setups confirming the higher low at new support. Look to target higher toward our negative fib levels and significant resistance. (The blue trade path)
If the 0.70800 level fails to hold as support, look for a bearish transition. You then want to enter on lower high opportunities and target lower. (The orange trade path)
This pair has been very bullish recently and last week we saw our monthly zone break around 0.70800
Currently we are seeing a retrace and price action is now testing the 0.70800 as support. We are now looking for bullish setups confirming the higher low at new support. Look to target higher toward our negative fib levels and significant resistance. (The blue trade path)
If the 0.70800 level fails to hold as support, look for a bearish transition. You then want to enter on lower high opportunities and target lower. (The orange trade path)