AUDUSD reaching an important level. Long for short term.
Hello Traders,
Looking for a long around 7370 - 7340 level. This is an important level with previous resistance turned support and 50% Fib. I will be watching price action, volume for confirmation.
Personally, I believe this pair still has room to go up but the surprise rate cut from RBA makes me go long only short term.
If it breaks this level, it will invalidate bullish view.
Good Luck!
Looking for a long around 7370 - 7340 level. This is an important level with previous resistance turned support and 50% Fib. I will be watching price action, volume for confirmation.
Personally, I believe this pair still has room to go up but the surprise rate cut from RBA makes me go long only short term.
If it breaks this level, it will invalidate bullish view.
Good Luck!
Comment:
Price holds and formed a 4 hour doji. Short(or long) term reversal next week.