澳元/美元
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AUDUSD Trade Idea

461
In Friday's (5th Feb) analysis, I expected AU to reverse back upwards due as I noticed the formation of a falling wedge pattern with 0.7650 resistance zone as the target, which was exactly what the market performed. In today's trading session, I will remain neutral bias as AU is currently in a range bound condition with equal possibilities of either direction in the short-term. There are two setups that I am looking at

1. If we notice some pullback continuation, creating higher highs & lows, that indicates buyers' existence and potentially send AU back to the 0.78 high (Bullish)
2. If we notice some rotational movement towards the downside, that could mean that it was a busted falling wedge pattern, sending AU back to 0.7570 support zone (Bearish)

However, do not forget the overall trend on the higher timeframe remains bullish.

Trade safe.

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AUDUSD Trade Idea

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