Very easy setup. AUDUSD is currently in a medium term uptrend. Dating back to early March, the 0.7400 - 0.7420 handle initially acted as resistance. Price then broke through and found support at this same level (blue boxes). Since then, price has created 3 new highs off of this support level (orange boxes).
Look for another bounce off of the 0.7400 - 0.7420 level in anticipation for further continuation of the bull trend.
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Happy Trading,
Nazar.
Look for another bounce off of the 0.7400 - 0.7420 level in anticipation for further continuation of the bull trend.
Like this idea? Hit the thumbs up!
And follow me for more simple trading ideas like this.
Post any questions you have in the comments.
Happy Trading,
Nazar.