AUDUSD: Potential long oppurtunity

FX:AUDUSD   Australian Dollar / U.S. Dollar
107 0 3
Hello fellow traders,

We are currently looking for buying opportunity at the kill zone that is made up of 38.2%, 50%, and 61.8% retracement levels. This kill zone does come at previous initial structure high. On 4 hour chart, market has made higher high higher close, signaling a potential bullish move. We might look for a double bottom or RSI bullish divergence . See the chart for more details.

Keep in mind that the market can go up to previous outside return and this setup will still be valid. Only a lower low lower close below the previous outside return will make this setup invalid.

Note: FOMC meeting minutes coming up at 2 pm.

Trade safe and Good Luck !!

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