AUD/USD reaches moderate supply level, time for pullback?
Updated
Dear traders, AUD/USD has broken through the 100-day exponential moving
average. However, the price has reached a moderate supply level from
where we can see a pullback in AUD/USD.
If you look at the daily chart, you can see that the area around 0.6510 has
multiple price rejections in the past. So, if we can see the formation of
bearish candlesticks at this level, AUD/USD can reach the 0.64 level again.
average. However, the price has reached a moderate supply level from
where we can see a pullback in AUD/USD.
If you look at the daily chart, you can see that the area around 0.6510 has
multiple price rejections in the past. So, if we can see the formation of
bearish candlesticks at this level, AUD/USD can reach the 0.64 level again.
Trade active
Sold@0.6516 and trade is currently in 11 Pips profitNote
18 Pips profit and looks like we have some bearish PA in the resistance zoneNote
76 Pips running profitNote
Nearly 100 pips profit hit, strong bearish momentum. Will look to sell the rallies
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