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YourLazyTrader
Jun 8, 2023 4:39 AM

Is it time to sell AUD/USD now? Check analysis Short

Australian Dollar/U.S. DollarFXCM

Description

Dear traders, in the AUD/USD daily chart, we can see the formation of
a bearish candlestick. The bearish candle has formed at the 100 day EMA
level which is quite significant.

This level, indicated by a circular zone in my chart could act as a resistance.
So, if this zone acts as a resistance and price action continues to be bearish,
traders can consider selling AUDUSD@0.6680-0.6710 with SL above the resistance
and TP at 0.65.
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