Sell some of youe pre bought Aussies! If you were long AUDUSD and you did not close your position before weekend! close some of your trades now!
This is not a signal! This is just a forecast of a rarely bullish channel which Aussie may goes up through!
If the price broke the channel levels may works as S&R levels.
I'm still generally long on the pair.
Australiadollar
A correction or a reversal, that is the question. A correction or a reversal?
Actually, I don't care! Only thing which matter is the fact that it's a chance to trade!
There might be more continuation in HTF or there might a total reversal but I see high probabilities that this Support level work here.
TP1 is dynamic levels ( MA100 or MA25) and the TP2 is the bearish OB.