Buying bias on AUD/USD, what do you see
I believe Aussie still has a few more bullish runs ahead of her. The only way bears could change the course of the bullish momentum is if they manage to push the price below the 50.0% fib level, which would technically compel the price below the 100-day SAM.
More so, the bull still has the 200SAM to use as technical support, which also liaised with the 61.8% fib level, making it a very strong confluence zone. Any surge below this confluence zone would be a hard drive to the bottom.
Till then, I will be looking for a buying opportunity.
Trade setup:
Buy stop - 0.7330
Stop loss - 0.7280
Take profit - 0.7500
Disclaimer: Trade this setup at your discretion (I might not trade it).
More so, the bull still has the 200SAM to use as technical support, which also liaised with the 61.8% fib level, making it a very strong confluence zone. Any surge below this confluence zone would be a hard drive to the bottom.
Till then, I will be looking for a buying opportunity.
Trade setup:
Buy stop - 0.7330
Stop loss - 0.7280
Take profit - 0.7500
Disclaimer: Trade this setup at your discretion (I might not trade it).