AUDUSD Potential Uptrend Continuation
Structure: Upward
Moving Average: Testing 200 SMA Support
Trendline: Retest of Broken Downtrend Line
Pattern: Rising Channel
Trigger: Bullish Engulfing Candle
Support: 0.6850, 0.6750
Resistance: 0.6930, 0.7025
Price is retesting the support of 200 SMA and previous downtrend line.
A higher low, higher high formation is on the way
Last Friday's bullish engulfing candle confirms the strength of bull and bear ran out of steam
Wait for long at 0.6860, 0.6885
SL: 0.6750
1st Target: 0.6930
2nd Target: 0.7025
Moving Average: Testing 200 SMA Support
Trendline: Retest of Broken Downtrend Line
Pattern: Rising Channel
Trigger: Bullish Engulfing Candle
Support: 0.6850, 0.6750
Resistance: 0.6930, 0.7025
Price is retesting the support of 200 SMA and previous downtrend line.
A higher low, higher high formation is on the way
Last Friday's bullish engulfing candle confirms the strength of bull and bear ran out of steam
Wait for long at 0.6860, 0.6885
SL: 0.6750
1st Target: 0.6930
2nd Target: 0.7025
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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.
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.