liampa

audusd potential long / thoughts

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
Expecting a drop to the previous weeks high at 0.7230 as we are extremely over bought on the RSI. Will enter this trade if price bounces off the weekly high, looking for a strong bullish candle to confirm. 0.745 is the target however strong resistance at the 0.7335 area could prove difficult to break so expecting price to reject and retest a previous pivot zone before breaking through towards the previous months high.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.