AU has been in a range bound condition since 6th Jan. In today's trading session, I will be paying attention to the 0.7793 & 0.7816 resistance zones. Two scenarios that I am looking at
1. If we get a clear break above the 0.7816 resistance zone, I will be looking for possible retracement entries with 0.8000 key resistance zone as the target (Bullish)
2. Do not be surprise if we notice further sell-off back towards the 0.7640 support zone as AU is technically still within a wide range (Ranging)
The higher timeframe picture remains bullish, avoid over-thinking.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. If we get a clear break above the 0.7816 resistance zone, I will be looking for possible retracement entries with 0.8000 key resistance zone as the target (Bullish)
2. Do not be surprise if we notice further sell-off back towards the 0.7640 support zone as AU is technically still within a wide range (Ranging)
The higher timeframe picture remains bullish, avoid over-thinking.
Trade safe.
Do follow my profile for daily fx forecast & educational content.