AUDUSD approaching MAJOR Support: HUGE BUY for long-term
AUDUSD is consolidating at the bottom for quite some time now. Every attempt to break upwards has so far resulted in a failure.
However, if you look at the chart, we are approaching a MAJOR SUPPORT on the weekly chart.
This presents a HUGE BUY opportunity for long-term traders. Even short-term traders too can look towards buying AUDUSD at every dip.
The BUYING zone is at 0.6900-0.7110 with SL below 0.6820. LONG-TERM traders can look at 0.8100 as a potential TP that can be achieved by the end of this year.
I believe the rally in currencies such as AUD and NZD will take place once the trade deal between the US and China is finalized.
However, if you look at the chart, we are approaching a MAJOR SUPPORT on the weekly chart.
This presents a HUGE BUY opportunity for long-term traders. Even short-term traders too can look towards buying AUDUSD at every dip.
The BUYING zone is at 0.6900-0.7110 with SL below 0.6820. LONG-TERM traders can look at 0.8100 as a potential TP that can be achieved by the end of this year.
I believe the rally in currencies such as AUD and NZD will take place once the trade deal between the US and China is finalized.
Trade active:
Bought at 0.6999
SL: 0.6950
TPs:0.7050,0.7120
SL: 0.6950
TPs:0.7050,0.7120