For alternative AUDUSD trading strategies based on forex technical analysis today we can look for Sell signal confirmation in the area of 0.71046 - 0.71288. The target potential is up to the range 0.470896 - 0.70653.Be careful if the price breaks above 0.71288 because it has the potential to frustrate this bearish scenario.Alternative Strategy:A break above the 0.71288 area potentially will be followed by an upward movement to the area of 0.71436 - 0.71681. If you are going to open a Buy position, make sure the breakout is really valid.
AUDUSD price is currently 0.7270 at the time of this post. I am expecting a major bullish move to start and continue for the next few weeks. It has broke a major trend line on the Daily chart and has re-tested this trend line. See attached image.This should be going up until at least 0.7400. This is a good Risk/Reward trade setup. Consider buying AUDUSD soon.
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