TradeswithTrend

AUDUSD Micro-Trend Setup on Daily

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
Highlights:
- Price has broken previous resistance and becomes the new support at 0.70319
- Price retest and show rejection on the new support level

Market Trend:
- Overall uptrend bias
- Short term downtrend on Daily chart

Momentum:
Bearish momentum on Daily chart

Opinion:
- To continue uptrend, the price needs to stay above the support level
- Look for Long opportunity when price breakout of the Micro Trendline

Comments

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