AUD/USD: Identifying Potential Sell and Buy Zones in 4H Chart

21 בנוב׳ 2023

In the 4-hour chart of AUD/USD, there's a noticeable uptrend in price development. It's probable that the price aims to reach the prominent supply level highlighted in red. This marked supply level presents an excellent opportunity for a sell position. On the other hand, the lower demand zone serves as a significant continuation level. Should the price retrace to this area, it offers an advantageous level for a buy position, targeting the aforementioned supply level above. This analysis holds relevance for traders engaging in long-term or swing strategies.