Down Under Dollars Trade Setup
The pair of down under dollars crossrate looks to be setting up for a rally.
With the Minor Pivot Stack as support and the longer term Monthly Pivot Range underneath, the setup is intact with a long bias.
Five trading sessions ago, a long hammer formed and this underscores the forming of a bottoming in price.
Hence, go long on strength through 1.05410 and place a stop loss at 1.0461 with a profit target at 1.06650.
With the Minor Pivot Stack as support and the longer term Monthly Pivot Range underneath, the setup is intact with a long bias.
Five trading sessions ago, a long hammer formed and this underscores the forming of a bottoming in price.
Hence, go long on strength through 1.05410 and place a stop loss at 1.0461 with a profit target at 1.06650.