AUDUSD Long

10 במרץ 2019

Nice risk to reward setup here with an AU long play off a strong Weekly Support level. Price hit a very strong support level while range-bound for the last several months. We saw a nice Bullish Engulfing candle off this zone on the close of Friday's candle showing buyers have entered the market at this key level. We now will watch for a break of the resistance at .7050 to ride this one higher. The overall target would be the Weekly down trend line in blue around .7150 for a 100 pip move.