Mihai_Iacob

AudUsd- An interesting zone to watch

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
As you know, I've been bullish AudUsd and called for a rise to 0.69 zone resistance.
The target was reached at the end of the year and the pair started to correct immediately after.
Although AudUsd started the year badly, the trend started in November remains strongly bullish and this correction could represent the opportunity for bulls to enter at a better price.
Looking at the posted chart we can see that the recent correction brought the price down to a very interesting confluence of supports, given by the retesting of the falling broken trend line, a drop to the ascending trend line, and the horizontal support.
As long as Friday's low is intact, I'm looking to buy dips.

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