Very choppy price action and has been unable to break the daily lows, probably going to be quiet until tomorrows CPI. I would only look for a sell if there is a lower low close below structure and the blue zone with a retest on the 30 min and a lower low close.
Other wise I favor low positions Ideally with a 4h close above structure and the upper blue zone...
Very choppy, So ideally need to see a break either side of structure with 4h close above or below zone then a retest and a Higher High close on a smaller time frame for continuation in which ever direction. My Bias is to the down side because of how the overall tend looks on the higher time frame.
Plus from fundamental basis the US is looking like the rate cut is...
According to my analysis, the trend of the AUD/USD chart can have an upswing. This review is the result of my technical analysis. And I think that the AUD will go up to 0.7067 from these ranges.
W1 Tf - long bias
D1 Direction
Price reaching fresh D1 demand zone. New buy opportunities
1H buy zone identified
Wait for price to be triggered. To set BUY limit orders when market opens.
After the break of the Blue Canal in weekly time frame
bulls still have power and chart are in a uptrend between two red trendline
* white support line ⚪
* yellow support zone (fibo levels) 🟨
* MA 300 🔵
* Weakening of descending waves and strengthening of ascending waves (in angle and number of candles)
* and breaking orange trendline 🟠
are my reasons for buy 🔼 AUDUSD
I went long on AU based on the reversal on the 1D and 2nd leg pullback on the 4h. T1 for 80% if we reach 0.6900 and I’ll trail the balance to T2 depending on how price action progresses.. I could exit early depending on how it shapes up. Both Aussie and USA are a little dovish with a seemingly fickle recovery for the Aussie dollar so this isn’t an ideal setup...
