AUDUSD has been selling off for the past few weeks, however we see bullish divergence in the MACD for a potential corrective wave up.
Price is making lower lows and MACD is making higher lows. This signals that bears are losing momentum and bulls will be able to steal momentum for a period.
Entry @ ~0.7200
TP:
1. 0.7240
2. 0.7285
3. 0.7310
SL:
0.71630
Price is making lower lows and MACD is making higher lows. This signals that bears are losing momentum and bulls will be able to steal momentum for a period.
Entry @ ~0.7200
TP:
1. 0.7240
2. 0.7285
3. 0.7310
SL:
0.71630