AUDUSD: Key Hidden Levels and Linear regression analysis

AUDUSD found support at the upper deviation of the recent downtrend's linear regression channel today. This level coincides with the mid point of the recent VIX 75% retracement, or 'smart money buying spree' key level, which happens after VIX spikes by 5 points or more, and the smart money 'buys the dip' in risk assets, making VIX retrace 75% of its recent climb, reducing option volatility, calming the market and putting a floor below the recent sell off lows. This range, gives 3 levels to monitor on retest, and that's what we have here. Let's see if bulls step in and drive price above resistance, else, the downtrend in AUDUSD will resume.

We can enter longs here, or on a new daily high to be more conservative, risking a new daily low. Keep risk at 1% or less.

Good luck,

Ivan Labrie.

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Nice move already.

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Testing the top of the 'Smart money buying spree' range. Once above AUDUSD can soar with ease.

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...now 'soaring with ease'.

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