Recently, AUD/USD has been trading downwards. The price tested the level of 0.7366. According to the 30M time frame, I found a potential end of the bearish corrective phase (ABC flat), which is a sign that selling looks risky. My advice is to watch for a breakout of supply trendline to confirm further upward movement. The upward target is set at the price of 0.7415.
Resistance levels:
R1: 0.7410
R2: 0.7420
R3: 0.7425
Support levels:
S1: 0.7393
S2: 0.7387
S3: 0.7377
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Recently, AUD/USD has been trading downwards. The price tested the level of 0.7366. According to the 30M time frame, I found a potential end of the bearish corrective phase (ABC flat), which is a sign that selling looks risky. My advice is to watch for a breakout of supply trendline to confirm further upward movement. The upward target is set at the price of 0.7415.
Resistance levels:
R1: 0.7410
R2: 0.7420
R3: 0.7425
Support levels:
S1: 0.7393
S2: 0.7387
S3: 0.7377
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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