AUD/USD Buy Limit
Updated
The AUD/USD pair showcases a cautiously bullish sentiment as it nears the 0.6400 mark, a critical level observed by traders. Recent technical analysis indicates a pivotal zone around the 2023 yearly open/downtrend resistance, with the pair displaying resilience around the 0.6331 level, flipping it into a support. Despite a sharp descent below the 20-day Simple Moving Average (SMA), the pair is eyeing a crucial support area, hinting at potential upside momentum.Moreover, traders are keeping a close eye on the significant level at 0.64, which historically played a pivotal role in the currency pair's movements. The recent recovery from a Year-To-Date low, flipping a crucial resistance level into support, along with the gradual approach towards the target of 0.6400, outlines a slightly bullish bias for the pair in the near term.
Buy LimitEntry Point: 0.6331
Take Profit 1 (TP1): 0.6400
Stop Loss: 0.6286
Buy LimitEntry Point: 0.6331
Take Profit 1 (TP1): 0.6400
Stop Loss: 0.6286
Trade active
Trade closed: target reached
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