Aud Usd has never been this low (with the exception of the flash crash in December 2018) since 2009! We expect a long term buy on the weekly as you can see the weekly double bottom!
We also expect a buy on the daily but the move up has still not been confirmed even though it is moving up right now.
AUDUSD still struggling to make headway.
Could still Test 0.69100 as per previous
analysis. But i am bullish on this pair
Please share your thoughts and views on my analysis and don't forget to like it and share with others.
I am looking for a long around 0.69475. AUDUSD has had a strong rally last week and barely took out may 10th's high. I believe that price would like to sink deeper before it wants to rally again. Longer term I think that price wants to trade towards the 0.7080 level but lets see if price is willing to find support around the 0.7947 area.
If it trades below...
AUDUSD is hit some resistance at 0.69900
(0.618 Fibonacci retracement) Expecting
more move up to test 0.5 or 0.382 Fib retracement
Price Broke out of the 100, 150 &200 moving averages
If AUDUSD breaks below trend line then more move down
We can clearly see a strong TL and a strong weekly support zone.
Now we can see price breaking this TL and when it does we will get a lovely bullish run, we might get a retest of our support zone before we push through this TL, but we will notify our clients in our VIP group once this trade becomes valid.
We have seen price rally bullish and we may see price continue after price finishes what i see as a retracement. I have marked the grey line at 50% fib retracement and we see price is also creating bullish divergence.
Grey line - Entry
Red line - SL
Green line - TP
Risk exposure - 1%
Risk to reward - 1:2