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Audsd

Limited upside seen on AUDUSDOn the higher time frame, prices are testing key resistance and we could be seeing limited upside here. On the H1 time frame, a pullback to test the support area at 0.7420, in line with the 100% Fibonacci extension, 38.2% Fibonacci retracement provides an opportunity to play the bounce to our resistance target at 0.74800. This resistance target lines up with the 78.6% fibonacci extension level. Ichimoku cloud is showing signs of bullish pressure as well in line with our bullish bias.
Long
by Salzworth
AUDUSD are we in for another buy?I see that this move is probably another move up if we continue to hold .6900 Right now we are holding above the red ribbon MA's which is acting as support. At .66 to .67 this looked like bearish consolidation but as we continued in time we got more and more bullish momentum until we broke .6800 and found support 50 pips higher. If price fails to hold red ribbon support we will fall down to the neckline price at 6825 to test price once more. Lastly, if we do fall then we can move back to to the bottom for a triple bottom support. Overall I am bullish long term AUD and the best entrance would be off our rising blue line of support. A break below that will warn bulls that bears might take over again. I don't see this happening. I see us continuing up making 6850 -6870 another solid support floor.
Long
by AschraM