Good evening team,
A slight reshuffle with the trades, the AUD has had a choppy couple of sessions. The fact the EURAUD failed to break resistance tells me the AUD could be looking to regain some strength. The AUDUSD technically looks bullish as anticipated at the start of the week. The risk V reward looks great on this setup.
AUDUSD 1 Hour Charts
From a technical perspective the AUDUSD is setting up a potential inverted head and shoulders formation along side a falling wedge.
Trade setup: BUY Market Execution, current price 0.7635, stop loss 0.7580 and take profit 0.7800.
Stop loss: 55 pips
Take profit: 165 pips