AUDUSD

A few weeks back we sent out an analysis on the AUDUSD . In that post the pair found resistance at the level 0.734 ( https://fxsits.com/audusd-bullish-momentum/ ). Since then, the pair did pull back for some time. Price traded below the level and moved towards support level 0.70751. For weeks, the pair consolidated. After the pair gained momentum and it moved bullish.Today the AUDUSD signals bullish price action.

AUDUSD H4 Chart 2 September 2020
AUDUSD H4 Chart 2 September 2020

Price had broken past level 0.72345 .This level held strong for the weeks, as price failed to break past it. Now price trades above the level which now acts as our new support level for the pair. Price has moved approximately 220 pips bullishly and its now finds resistance at level 0.73996.Our analysts believe a Retracement could be imminent.

AUDUSD daily Chart 2 September 2020
AUDUSD daily Chart 2 September 2020

Price could drop and find support at level 0.72345 before resuming bullish .But if price and breaks level 0.72345. Level 0.70751 will be exposed.If AUDUSD signals a break of level 0.73996 ,we could see price trade towards level 0.75723. Which will be the next target area.Get all details and explanation on the charts with analysis for proper understanding. Both H4 and Daily time frame. For more information on specific entries and exits feel free to Subscribe to our Smart plan.

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