Consecutive inside days have formed in the AUDUSD. This rare occurrence indicates a contraction in volatility and presents a short term breakout opportunity.
Looking at price it has broken out of congestion area. There appears to be no resistance till 1.0700 or the resistance could be at 1.0522 (78% retracement)
We will look to buy on dips, especially between 1.0450-1.0425 with stoploss at 1.0375
Looking at price it has broken out of congestion area. There appears to be no resistance till 1.0700 or the resistance could be at 1.0522 (78% retracement)
We will look to buy on dips, especially between 1.0450-1.0425 with stoploss at 1.0375
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| 4hr chart |
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| 1hr chart |
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