AUDUSD made a lower low, indicating a bearish trend.
Price action is pulling back to the resistance level.
It is going to be a simple structure-based trade.
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Intraday - We look to Sell at 0.6880 (stop at 0.6925)
Buying pressure from 0.6764 resulted in prices rejecting the dip. The current move higher is expected to stall at trend line resistance. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies.
Our profit targets will be 0.6750 and...
Hi traders , price go to retest broken support with arrive to levels of 0.68650 , 0.68860 it's good entry to sell , we can take buy postion from here but nit a perfect entry use the risk management
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The AUD/USD daily chart formed a double bottom at 0.685 last week, a level reached by the pair in mid-May before rebounding to 0.727.
A double bottom is a chart pattern that consists of two pretty equal lows separated by a tiny peak that creates a 'neckline.' It often occurs near the end of a downward trend and may foreshadow a positive reversal.
Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.