AUD/USD long term support/resistance
Updated
Short term long trade AUD/USD based on long term resistance level becoming support after recent impulse higher.
Daily and 4h charts both near oversold and retracement to 38.2 is expected for pair to retest support and push lower.
Daily and 4h charts both near oversold and retracement to 38.2 is expected for pair to retest support and push lower.
Note
Full disclosure, trade was exited yesterday for justr above breakeven as pair was looking weak and another AUD/JPY trade got stopped out. Probably exited too early in hindsight. We live to learn another day though!
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