AUDUSD: Potential Long At Structure?

FX:AUDUSD   Australian Dollar / U.S. Dollar
Hi Traders,

We can see that from the initial low put in early last month AUDUSD             has been in a bullish rotation. The structure zone of 0.7160-80 has been respected on a number of tests recently. Therefore I think it provides a good trading opportunity with a decent R:R. For anyone trading Aussie this week keep in mind we have RBA rate decision tomorrow (Tuesday) and Trade Balance on Wednesday during the Asian session, also let's not forget about NFP on Friday.

See chart for long setup.

Alternatively, if you have a bearish bias on AUD and prefer to look for selling opportunities.
A breakout below 0.7150 with stops above 0.7180 looking for targets of 0.7080 and 0.70250 is a good way to express that bias.
Thanks bro
+1 Reply
am i wright or not
lukeboland PRO Mughal2657
Hey yes it is indeed a head and shoulders. Could be a bearish reversal coming.
is it head and shoulder pattern bro
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