AUDUSD – BUY – 8th April 2021

AUDUSD – BUY – 8th April 2021 (Closed)

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

Trade Setup
BUY - Market Execution

Entry
0.7635

Take Profit
0.7800

Stop Loss
0.7580