BluetonaFX - AUDUSD Third Attempt at Range Zone Resistance
Hi Traders!
AUDUSD has reached the resistance of its range zone, and there is potential for a resistance break if the bullish momentum continues.
Price Action 📊
The price action looks bullish, with market swings showing higher highs and higher lows. The market broke and closed above the 20 EMA yesterday with huge momentum. Additionally, this is the third attempt at the range zone resistance, which indicates that buyers want to take the market upwards. We are looking for further bullish momentum, and our plan is to buy the market dips and retracements.
Fundamental Analysis 📰
Weaker than expected data has recently been coming out of the US, and this may be a sign of the US economy slowing down towards the end of the year. US retail sales are out later today, and if the figure is weaker than expected, traders will start to get increasingly nervous about the US dollar.
Support 📉
0.63604: PREVIOUS DAY'S LOW
Resistance 📈
0.65230: RANGE ZONE RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
AUDUSD has reached the resistance of its range zone, and there is potential for a resistance break if the bullish momentum continues.
Price Action 📊
The price action looks bullish, with market swings showing higher highs and higher lows. The market broke and closed above the 20 EMA yesterday with huge momentum. Additionally, this is the third attempt at the range zone resistance, which indicates that buyers want to take the market upwards. We are looking for further bullish momentum, and our plan is to buy the market dips and retracements.
Fundamental Analysis 📰
Weaker than expected data has recently been coming out of the US, and this may be a sign of the US economy slowing down towards the end of the year. US retail sales are out later today, and if the figure is weaker than expected, traders will start to get increasingly nervous about the US dollar.
Support 📉
0.63604: PREVIOUS DAY'S LOW
Resistance 📈
0.65230: RANGE ZONE RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Comment:
Target Area reached.
