The trade range of AudUsd is narrowing. It has come at a point where it will break the channel of bounce back up. When looking at the indicators it looks like the selling pressure and bearish trend is to weak to for a break to the down side. So a buy position aiming at the upper channel and a possible break of it would be the best. Use a stoploss at 1.7410
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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.