AUDHUF Testing Key Demand Zone: Bullish Bounce Ahead?PEPPERSTONE:AUDHUF is currently trading within a significant demand zone, marked by historical price reactions and a concentration of buyer activity. This area has previously acted as a strong support level, suggesting the potential for a bullish reversal if buyers regain control.
The current price action indicates the market is testing this demand zone, and signs of bullish momentum, such as bullish candlestick patterns or a higher low formation, could confirm a potential upward move.
If the demand zone holds, I anticipate a move toward the 248.570 level, which is a logical target for short-term bullish momentum.
AUDHUF trade ideas
AUDHUF - Rising Wedge in a downtrendPrice may want to test the previous pivot high before either breaking out above it or travelling to the lower boundary of the wedge to continue with the higher timeframe downtrend.
A divergence on the MACD indicator may also indicate that price is losing it's upward momentum
AUD/HUF: BEARISH DIVERGENCEHello traders!
A bearish divergence just showed up and it seems promising! In fact, if you look at the MACD you may see clearly that the bullish momentum is getting weaker and the RSI is almost overbought! These two facts make me think that a bearish reversal will take place (if not now, in a while).
The target is our dotted line and remember to put a stop loss in order to secure your capital!
Not a financial advice.