Intraday Trend change in AUDUSD
After the downside pressure that we witnessed early on after the market open, the price has made a reversal back above the 1DL,2DL, and 3DL. This is a significant move, and the final confirmation is price trading above the previous momentum low (0.7336) created this morning during the Tokyo session.
This is a low-risk trade and if the price remains above the Momentum low, we should be expecting a rise toward the 1Hr high (0.7380).
Alternatively, a break below 0.7318 is a continuation of downside pressure and this will be our stop loss.
This is a low-risk trade and if the price remains above the Momentum low, we should be expecting a rise toward the 1Hr high (0.7380).
Alternatively, a break below 0.7318 is a continuation of downside pressure and this will be our stop loss.