The currency pair have consolidated since for 1 month with clear supply and demand levels. After a false breakout on July 9th, AUDUSD reentered back the previous consolidation zone by a bull spike. However a decline of inventories including short-retail traders could display an upcoming bearish pressure since we are close to the support zone.
Possible Targets: @0.70500 (+25 pips)
Advice: Stay bullish and buy any low points while we don't break downside @0.69800 level.
Possible Targets: @0.70500 (+25 pips)
Advice: Stay bullish and buy any low points while we don't break downside @0.69800 level.
Trade closed: target reached
Target was successfully reached!
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.