AUDUSD Trading idea for the week of 02-April-2018

We can see that AUDUSD pair has formed a bearish doji candle on the weekly charts. However, we can also see that the pair is nearby and almost bouncing from the support provided by a strong weekly and daily uptrend line.


It is possible that the pair could go lower looking for a solid support from the uptrend line. This could coincide around 0.7600 area. A strong bounce from there could be a good buying opportunity. If 0.7600 area does not hold, 0.7500 could provide support.

Trading preference


A daily close above the top of the weekly candle is a buying opportunity. We can also buy if there is a strong bounce from the up trend line around 0.7600 region
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