BluetonaFX

BluetonaFX - AUDUSD 20 EMA Break LONG Idea

Long
BluetonaFX Updated   
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
Hi Traders!

AUDUSD is still looking strong off the support bounce from the yearly low as bears look exhausted and new waves of buyers are entering the market, and price has finally broken and closed above the 20 EMA for the first time in eight weeks.

Price Action πŸ“Š

The market bounced off the yearly low and is approaching the first resistance area. The market has also broken and closed above the 20 EMA for the first time in eight weeks.

Looking for bullish continued momentum to take us to the first resistance area.

Fundamental Analysis πŸ“°

The market's outlook on the AUD continues to be positive, as hawkish statements were released in their latest monetary policy meeting and a recent improvement in the employment situation in Australia

Support πŸ“‰

0.63574: YEARLY LOW
0.64436: 20 EMA

Resistance πŸ“ˆ

0.64974: FIRST RESISTANCE
0.65233: SECOND RESISTANCE

Risk ⚠️
No more than 2% of your capital.

Reward πŸ’°
At least 4% of your capital.

Please make sure to click on the like/boost button πŸš€ as your support greatly helps.

Trade safely and responsibly.

BluetonaFX
Comment:
First resistance area reached.

JOIN OUR FREE TELEGRAM CHANNEL
www.t.me/bluetonaFX
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.