AUDUSD – Where can it go


AUD/USD is near an important support level.  Today it bounced off the 50MA  within a down channel and is above the resistance it saw in April.  For a quick scalp look for it to drop before first support at 1.0580 then a exit around the 50MA near 1.0507.  That’s about 70 pips worth of movement.  Playing bounces within the trend, the support levels, and 50MA can increase the odds of success.


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.