AUDUSD / H1 / Daily Forex Technical Analysis / 5.21.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 21st, 2019 and we will be taking a look at the Australian Dollar against the U.S. Dollar. Looking at the 1 hour time frame we can see price action had a minor retracement back to its previous lows not quite reaching them, so it seems as price action is setting in a higher low. If price action can mange to get some bullish continuation off the .68958 support and resistance area we will look for an opportunity to enter Long. Entry for a Long position near the .68957 area, with a Stop Loss near the .68826 zone, with a target profit level area of .69332 to possibly ensure a profitable trade with a 2.86 to 1 R/R.
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