Bought the dip in AUD/USD, did you buy too ?
Hello traders, on account of US Dollar demand across the board due to news about the escalating Iran-Israel conflict, AUD/USD fell quite rapidly during the Asian Trading session on Friday.
However, the price has made a quick recovery since then. AUD, considered a risk asset mostly falls during times of geopolitical tensions and economic crises. . However, I went long in AUD/USD@0.6370 level as I feel markets will recover soon.
That being said, the key support level lies at 06270. In case, AUD/USD continues to go up from current levels, the first target for the bulls would be the 100-day EMA level at 0.6540
However, the price has made a quick recovery since then. AUD, considered a risk asset mostly falls during times of geopolitical tensions and economic crises. . However, I went long in AUD/USD@0.6370 level as I feel markets will recover soon.
That being said, the key support level lies at 06270. In case, AUD/USD continues to go up from current levels, the first target for the bulls would be the 100-day EMA level at 0.6540
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AUD/USD moves up 60 pips from the daily lows
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The buy hit 80 Pips profit today
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Price has now moved in 150 pips profit from our buy at 0.6370 , just 20 pips away from first TP