AU long for FX:AUDUSD by maxw3st

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Let it come down till it reverses and go long. Preferably as close to the bottom of the green box as possible. Use the box bottom as an SL. Go long for the top of the channel.

Trade active: Daily

Comments

If EU finally gets into a bearish minor trend it will likely bring AU down with it. In that case the bottom of the flag pole created by the rising wedge/channel (0.6776) will come into play. So long as DXY/EU are stuck in the current topping zone AU will most likely continue to rise. 0.75 is a likely target zone.