After a long time, we are looking at the AUDUSD pair, which lies with the EURUSD pair. We are looking at the AUDUSD pair to go long at the support level from the price of 0.6410. The market is forming higher highs and higher lows. The H4 is forming for the bullish move on it. Lets see how fair the pair throws the price action.

The descending trendline has broken out for buys and the market has retained the resistance level, unable to be break it out. Once broken out of the structure, we have a solid buy.

There is a retracemetn level of 61.8% which is in confluence with the support level. This confluence is strong and the market can take the market up after tapping this level.

EMA 50 is still bullish and might retest it forming another solid bullish confluence for the continuation upwards.

RSI is at 56. It needs to be redapted at the 50 level or even below that, to ascertain the technical parameters for the continuation upwards. 

AUDUSD buys from 0.6410

Sep 19 2023

Stop Loss -0.40%

Holding time 6d0hr

0.64085

Entry price

0.63826

Stop loss price