AUDUSD ! Long setup. Price growth from the support zone🦬

5 באוג׳ 2022

AUDUSD in an uptrending price channel. The price is forming a local reversal pattern relative to the 0.6979 level, but I assume it could be a correction to the support zone.

On the chart I have marked a support zone relative to the upward price channel, which is where I expect an upward reversal.

I assume that the price on the pullback may make a false break of the support of the price channel and continue its upward trend. The short-term target is resistance at 0.70354.

Regards R.Linda!