0,6383. AUD USD is in an downtrend directed by 1H exponential moving averages. AUD USD is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. The price should find a resistance below 0,6460 (77 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 0,6400. We will put the stop loss above 0,6470 (-70 pips). The targets are 0,6260 (+140 pips, risk/reward 1:2), 0,6050 (+350 pips, risk/reward 1:5) .
Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following):
3.
- Resistances
- 0,6460 - 0,6500
- Supports
- 0,6350 - 0,6260
