AUDUSD took almost a non stop rise towards 0.8400 which started around 0.7650 level. The over bought market was creating a pressure on AUDUSD but it kept rising and almost touched 0.8400 and then is now looking to take some retrace. RSI has come down considerable and is currently just over 56 in daily charts.
We might see AUDUSD making another move towards 0.8400 level and might look to take it out this time. Currently a good buying level can be seen around 0.8266 and traders will look to buy AUDUSD around that level for targets above 0.8375 level.
TRADE:
Buy AUDUSD @ 0.8266 for Profit Level @ 0.8346 and Stop Loss @ 0.8226
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.
