Audusdlongsetup
AUDUSDIf the 0.6805 area is breached, then down to the first support box on the major bullish trendline. From here, another break could result in point D then a reverse back to the upside before another leg down. If support holds on the major trendline up, then a double top near the recent highs may be seen.
AUD/USD Technical Analysis.Currently, AUD/USD is trading at 0.6938. The pair is trading in an up trend from 19th May after breaking resistance level at 0.6544. Although, the pair has already touched its first target at 0.6777 and the second target at 0.6921. Now the pair is hovering in the resistance zone and soon it may come in a down trend.
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Rishikesh Lilawat
AUDUSD LONG -FULL WAVE COUNTHere is my full wave count on AUDUSD. Wave (5) in the current main wave with another five sub wave in it.
In the sub wave, wave 3 is currently active.
The five wave (sub) of wave five becomes invalid only if price settles below 0.65123.
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AUDUSD Long Position in Near TermThe strong upward trend in AUDUSD seems to want to continue, as can be seen in the chart above. I expect the upward move of AUDUSD to continue in the near term, and test the next resistance level of 0.65350, which is where I have placed my take-profit target. I expect some volatility in this pair with the upcoming CPI news announcement for AUD.
AUDUSD: FALLING WEDGE IN MONTHLY TIME ZONEThanks for Taking Interested in my Trading Idea.
AUDUSD: FALLING WEDGE IN MONTHLY TIME ZONE
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