Hello Traders, welcome to the Daily Forex technical analysis
. Today is August 7th, 2019 and we will be taking a look at the Australian Dollar
against the United States Dollar. We are currently looking at the 4 hour time frame, price action fell below .672 support and resistance
and area but it was quickly regained. If price action can hold the .672 area as support we will be looking for optimal conditions to go Long. Entry for a Long position near the .67253 area, with a Stop Loss near the .66907 region, and a target profit level area of .68291 to possibly ensure a profitable trade with a 3 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!