AU is finally showing signs of breakout after a range bound condition. In yesterday's forecast, I expected AU to re-test the 0.7620 to determine the strength of sellers. As price is breaking above 0.76203 resistance, will be focusing on long-term buying opportunities with 0.77 - 0.78 as targets. There are two setups to be considered,
1. A pullback towards 0.7620 for continuation setup
2. A break & re-test setup above 0.7638 daily high
Both these setups will depend on the strength of the breakout (weak breakout, deeper pullback/ strong breakout, shallower pullback)
Trade safe.
Do follow my profile for daily fx forecast.
1. A pullback towards 0.7620 for continuation setup
2. A break & re-test setup above 0.7638 daily high
Both these setups will depend on the strength of the breakout (weak breakout, deeper pullback/ strong breakout, shallower pullback)
Trade safe.
Do follow my profile for daily fx forecast.
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