AUDUSD has successfully tested the bottom of its channel and previous lows and the reversal candles at these levels suggest that a short term bottom is in place.
We are BUERS at current levels but prepared to add more at 0.7105-15 area. If 0.7105-15 is tested again (White scenario in the chart) our target will be 0.7160-70. In case of a breakout of 0.7170 without correction our target (green scenario) will be the 0.7210-20 area.
Below you can see our Daily and 4H view for the pair in order to have a clearer picture.
We are BUERS at current levels but prepared to add more at 0.7105-15 area. If 0.7105-15 is tested again (White scenario in the chart) our target will be 0.7160-70. In case of a breakout of 0.7170 without correction our target (green scenario) will be the 0.7210-20 area.
Below you can see our Daily and 4H view for the pair in order to have a clearer picture.