Looking at the AUDUSD chart in the 4hour time frame shows us that the pair is nearing a major support at around 0.66900 area. Breaking that area would open up a bearish AUDUSD pair. If the support area holds we are looking for a bounce and hopefully target the weekly virgin POC at 0.6843 in the long run. But in the short term trade we can target the recent POCs at 0.6736 and 0.6758 with a possible consolidation of the pair around the area between 0.67770 and 0.68110 (both historical POCs). We will wtch out if the pair will bounce at the support in the 1 hour chart before we take a trade.
No comments:
Post a Comment