AUDUSD is in a bullish trend with the higher highs and higher lows being formed. The support level is at 0.6700 which will be the area we will be going long at. This region needs to be respected and form a bullish price action for the market to continue moving up.

The descending trendline has been breached for the breakout buy and validated by the price action. With this, the market has made a higher mark and will continue moving up.

The retracement level of 61.8% is in confluence with the support level from where another impulse entry is expected.

EMA 50 is bullish and below the price action. The retest of the support with the EMA 50 will form the confluence to further fuel the upward scale up.

RSI is at 67. It needs to dwell back into the neutralized level in order to align with the technical factors. This will give us a good opportunity for the continuation upwards.

AUDUSD to the upper side

Jul 12 2023

Stop Loss -0.73%

Holding time 3hr

0.66945

Entry price

0.66458

Stop loss price