AudUsd close to support - previous lows, opportunity to buy
A long position Aud/Usd offers an excellent RR-ratio at this time
The pair is close to support of previous lows around 0.725
and a turnaround or continuation of the current bullish scenario could target previous highs above 0.7430
The pair has held just above 76.4% Fibonacci retracement level of the previous move up
and this is not an uncommon level for this pair to respect
Also, the 50 SMA has just about moved above the 100 SMA on the 4hour chart,
this is another bullish sign
I am long this pair at 0.7290, with a SL just below 0.725, and a TP above previous highs at 0.7450
The pair is close to support of previous lows around 0.725
and a turnaround or continuation of the current bullish scenario could target previous highs above 0.7430
The pair has held just above 76.4% Fibonacci retracement level of the previous move up
and this is not an uncommon level for this pair to respect
Also, the 50 SMA has just about moved above the 100 SMA on the 4hour chart,
this is another bullish sign
I am long this pair at 0.7290, with a SL just below 0.725, and a TP above previous highs at 0.7450
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