AUDUSD on 1hr time frame looking at the bigger picture is in uprtrend,but has failed to make higger high since the sixt of january,from that is in bearish bias.
At a level of 0.76000 price is finding support,and also touching the trend line.Also price is creating a falling wedge pattern,but to be valid it has to breake the resistance area or 0.38 or 0.5 fib levels.
Rsi is showing a bullish divergence so it could signal a possible reversal,but we have to wait and see for some additional price action confirmation.
If happens we can make a buy,and first take profit would be at 0.77500.and second take profit 0.77640.
Happy trading.
At a level of 0.76000 price is finding support,and also touching the trend line.Also price is creating a falling wedge pattern,but to be valid it has to breake the resistance area or 0.38 or 0.5 fib levels.
Rsi is showing a bullish divergence so it could signal a possible reversal,but we have to wait and see for some additional price action confirmation.
If happens we can make a buy,and first take profit would be at 0.77500.and second take profit 0.77640.
Happy trading.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.