AUDUSD has been in a bullish momentum since previous month. Right now, the market is at the support level where the price is 0.6650. This area is the structure for another bullish leg upwards. We will continue buying AUDUSD as the trend is bullish on H4 and the market has weak fundamentals on the USD.

The descending trendline has been broken out earlier for the buys and the market is continuing to move up. 

A lower timeframe breakout buy induced will be able to confirm the momentum upwards.

The retracement level of 61.8% is the level where the market can confluence with the support level.

The EMA 50 is bullish and the price action is blanketing the prices at the support level. Therefore, we will have another bullish confluence at the support level.

RSI is at 56. The market needs to be neautralized at the level of 50 in order to continue moving up.

AUDUSD looking bullish

Dec 29 2022

Stop Loss -0.50%

Holding time 2hr

0.67255

Entry price

0.66916

Stop loss price