Potential Buy Opportunity on AUDUSD
Looking at AudUsd, price has been in a steady sell off since the market opened at the beginning of the week. We have now approached a weekly support level, and price is beginning to bounce. Just looking at the market structure, it seems that the pair is relatively oversold and a potential retracement towards the H4 horizontal resistance level is very viable.
Scoping down to the 1H chart, I'll be waiting for price to break and retest this minor swing level before looking at possible long options towards the resistance level.
Scoping down to the 1H chart, I'll be waiting for price to break and retest this minor swing level before looking at possible long options towards the resistance level.
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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.