AUDUSD Daily 12/29/19
AUDUSD Long Idea
All time frames above the daily are very bearish
On the daily time frame we have seen a bit of a bullish trend which is likely a higher time frame retracement. Last week price action broke back into this range and is looking to reach the next resistance level around 0.70300
Ideally we want to see a test of support, 38.2% level, and bullish setups around 0.69300 which would be perfect to enter on and then target toward the top of the range.
All time frames above the daily are very bearish
On the daily time frame we have seen a bit of a bullish trend which is likely a higher time frame retracement. Last week price action broke back into this range and is looking to reach the next resistance level around 0.70300
Ideally we want to see a test of support, 38.2% level, and bullish setups around 0.69300 which would be perfect to enter on and then target toward the top of the range.
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.