As we can see that AUDUSD broke support zone and is currently sitting at the major support zone and also showing bullish divergence. so it can turn out to be a fake out that might have been created just to retest the major support lying beneath. so we can plan long positions over here if we see some sort of bullish confirmation.
That's a nice analysis on identifying a suitable buy zone for the Aussie based on multiple bounces off the level. Let's see how this plays out.
IMEVIL
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@ICmarkets Yeah It has formed an inverted head and shoulder pattern at the major support zone on 30 min timeframe so it increases the probability of movement to the upside.