Is it time to sell AUD/USD now? Check analysis
Dear traders, in the AUD/USD daily chart, we can see the formation of
a bearish candlestick. The bearish candle has formed at the 100 day EMA
level which is quite significant.
This level, indicated by a circular zone in my chart could act as a resistance.
So, if this zone acts as a resistance and price action continues to be bearish,
traders can consider selling AUDUSD@0.6680-0.6710 with SL above the resistance
and TP at 0.65.
a bearish candlestick. The bearish candle has formed at the 100 day EMA
level which is quite significant.
This level, indicated by a circular zone in my chart could act as a resistance.
So, if this zone acts as a resistance and price action continues to be bearish,
traders can consider selling AUDUSD@0.6680-0.6710 with SL above the resistance
and TP at 0.65.
