Trade Alert
It looks like AUDUSD is trying to make a run for it higher. But at the moment this is just pure speculation. We need to get confirmation first. For that, we will wait for a clear break of the 0.7235 zone, in order to get our confirmation. This move could open the way towards the 0.7315 area, where the pair could test the medium-term downside trendline, running from the high of the 26th of January. This is where AUDUSD could get held initially, until the bulls and the bears figure it out who takes the driver's seat from there.
On the other hand, a break below the key support area at 0.7165 could spook the bulls and the bears could take control at least for the near-term.
Always have your SL in place.
It looks like AUDUSD is trying to make a run for it higher. But at the moment this is just pure speculation. We need to get confirmation first. For that, we will wait for a clear break of the 0.7235 zone, in order to get our confirmation. This move could open the way towards the 0.7315 area, where the pair could test the medium-term downside trendline, running from the high of the 26th of January. This is where AUDUSD could get held initially, until the bulls and the bears figure it out who takes the driver's seat from there.
On the other hand, a break below the key support area at 0.7165 could spook the bulls and the bears could take control at least for the near-term.
Always have your SL in place.