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:

A few minutes ago, the AUDUSD broke through that range triggering a bullish market condition, therefore only long opportunities are in play (shorts will be ignored).

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.

Trade Safe!

Raul Lopez
Forex Training