AUDUSD: Trend-Following Setup Explained 🇦🇺🇺🇸

7 באוק׳ 2022

Hey traders,

Update for AUDUSD:
the pair is trading in a bearish trend.
The market is currently consolidating within a horizontal trading range after a strong bearish wave.

To catch the next trend-following move, wait for a bearish breakout of the range's support.
You need a daily candle close below 0.6363 to confirm the breakout.

Goals will be 0.626 / 0.619

If the price breaks the resistance of the range to the upside, a bullish movement will be expected.

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