AUD/USD - LONG
1M
The past 2 months we have seen price drop down following the higher high, we have now formed the higher low. This higher low also lines up with my key fib zone. EMA pointing up also.
1W
Last week’s candle took out 3 previous candles and closed above the key monthly resistance which has now turned support. EMA’s are still lagging and pointing downwards. The lower higher was support by a key support area at 0.76562.
1D
Price has continued to close above the 0.77500 support level. Rejecting this level a few times and testing the EMA support lines which are also pointing up.
4H
CTL has been broken by the price and closing above it after forming a tweezer bottom at the key monthly support level. This level also lined up with the 38% fib level. EMA has also crossed to the upside following the CTL break. Targets set at the -27% fib level but need to keep an eye out for a key resistance level leading up to target.
The past 2 months we have seen price drop down following the higher high, we have now formed the higher low. This higher low also lines up with my key fib zone. EMA pointing up also.
1W
Last week’s candle took out 3 previous candles and closed above the key monthly resistance which has now turned support. EMA’s are still lagging and pointing downwards. The lower higher was support by a key support area at 0.76562.
1D
Price has continued to close above the 0.77500 support level. Rejecting this level a few times and testing the EMA support lines which are also pointing up.
4H
CTL has been broken by the price and closing above it after forming a tweezer bottom at the key monthly support level. This level also lined up with the 38% fib level. EMA has also crossed to the upside following the CTL break. Targets set at the -27% fib level but need to keep an eye out for a key resistance level leading up to target.
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