AUDUSD Breakout and Retest Continuation Strategy
The market has broken and closed above the significant psychological level of 0.6800, establishing a range zone above this point. Given the prevailing bullish trend, I see a strong possibility for continued upward movement. Currently, the market is testing the weekly level, and it may consolidate within this range for some time. I expect a pullback to the robust support level below, and potentially to the trendline, before making another upward push. Ultimately, I anticipate breaking and closing above the recent higher high (HH) level. My target is the resistance zone at 0.68530.
Traders, if you find this idea helpful or have your own insights, please share your thoughts in the comments. I’d love to hear from you! 👩💻
Traders, if you find this idea helpful or have your own insights, please share your thoughts in the comments. I’d love to hear from you! 👩💻
Trade active
We see a reaction from the support zone. Trading continues actively.Trade active
Trade Active.Trade closed: target reached
Target reached. See you for the next analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.