AUDUSD: Hit the 1D MA50 and rebounding

AUDUSD hit yesterday the 1D MA50 and today at least before Powell's speech, was staging a big rebound. That hit was also made at the bottom of the long term Channel Up started in November. With the 1D technicals neutral (RSI = 49.300, MACD = 0.004, ADX = 28.417), we see this as a good buy entry, targeting on the long term just under the R1 (TP = 0.71350). The short trigger is the 1D MA200, aiming at the top of S1 (TP = 0.66800).


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