Facts:
AUDUSD is trading in an upward trend
The pair is testing the key support area
Recommendation:
Trade: Long position on AUDUSD at market price
Target: 0.6387, 0.6407
Stop: 0.6305
Opinion: Looking at the AUDUSD on H1 interval, we can see that the pair reached a key technical support. The pair bounced off the area marked with the lower limit of 1:1 structure, as well as previous price reactions. According to the Overbalance methodology, as long as the price sits above the aforementioned support, one should expect the price to continue the upward move. We recommend going long AUDUSD at market price with two targets: 0.6387 and 0,6407. We also recommend placing a stop loss order at 0.6305. Source: xStation5
