AUDUSD H4 Analysis
The AUDUSD chart tested two times the resistance level at around 0.71700 and has strongly been rejected. Furthermore, the indicators strongly indicates the formation of a double head pattern. We expect to witness some downward movement, especially that the AUD pairs have been in a bullish rally the past couple of weeks and should refrain a little this week. Hence, the trade would be executed as follows:
AUDUSD
SELL: 0.71400
SL: 0.72100
TP1: 0.70800
TP2: 0.70200
AUDUSD
SELL: 0.71400
SL: 0.72100
TP1: 0.70800
TP2: 0.70200
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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.