The AUDUSD was trading around an important LT resistance level: 0.9817, when it approached that level it started to trade in a ST range around 0.9771 and 0.9907:
As long as the Australian dollar trades above 0.9907 I will be looking for long opportunities. It is trading at historical highs, I’ll use a 3:1 risk-reward ratio.
Tags: AUDUSD Analysis
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