AUDUSD 4hour Analysis September 6th, 2020
AUDUSD Long idea
This pair is very bullish and recently we saw a daily change of trend after we saw price action break our key monthly resistance.
Now we can see price action retracing and holding at our recent broken structure level at 0.72750 as well as the 61.8% fib level.
From here we want to see a lower timeframe transition confirming this higher low at the 61.8% followed by strong bullish setups. Target higher toward key resistance and fib levels.
For us to consider short opportunities we need to see a break and retest of 0.71400
This pair is very bullish and recently we saw a daily change of trend after we saw price action break our key monthly resistance.
Now we can see price action retracing and holding at our recent broken structure level at 0.72750 as well as the 61.8% fib level.
From here we want to see a lower timeframe transition confirming this higher low at the 61.8% followed by strong bullish setups. Target higher toward key resistance and fib levels.
For us to consider short opportunities we need to see a break and retest of 0.71400