AUDUSD / H4 / Daily Forex Technical Analysis / 4.30.2019
Hello Traders, welcome to the Daily Forex technical analysis. Today is April 30th, 2019 and we will be taking a look at the Australian Dollar against the U.S. Dollar. Now keep in mind we do have the China manufacturing numbers (PMI numbers) coming out today, certainly a key report which may have a news effect on the AUDUSD as well. Looking at the 4 hour time frame here we're looking for a news trade where price action retraces to the .70081 region, setting us up for a long opportunity if we get some bullish rejection at these levels. Entry for a Long position near the .70065 area, with a Stop Loss near the .69823 area below the lows, with a target of the .70552 area for what can possibly be a profitable trade with a 2.01 to 1 R/R.
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