• July 29, 2024
  • Trade ideas

AUDUSD: Trend Reversal

AUDUSD, Daily

AUDUSDDaily.png

On a Daily timeframe, the AUDUSD faces a crucial resistance zone at 0.6560, aligned with the 38.2 Fibonacci ratio. The price exceeded the upper Bollinger Band and subsequently retraced. The RSI has crossed upwards from the oversold zone, indicating potential buying pressure.

  • Trade: Buy AUDUSD on a break above 0.6560.
  • TP: 0.6680.
TRY TRADING NOW

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:

Author: Timur Yurdagyul