As discussed last week we said a big bounce is due in the AudUsd, although we hoped for a bigger pullback around 0.7100. We still see some trouble ahead for AudUsd, Key resistance around 0.7490 (Also inline with pitchfork), we will trade the AudUsd both ways.
Look for buy price action signals to trade up to resistance 0.7490 (Also 50% retracement level) , and see if we get a sell signal at key resistance. Which ever way we will be trading, we will make sure we trade with good risk reward ratio of atleast 1:2. See below weekly graph explaining the long term levels (note the pitchfork lines)
Look for buy price action signals to trade up to resistance 0.7490 (Also 50% retracement level) , and see if we get a sell signal at key resistance. Which ever way we will be trading, we will make sure we trade with good risk reward ratio of atleast 1:2. See below weekly graph explaining the long term levels (note the pitchfork lines)