Dear traders, AUD/USD is slowly reaching a long-term resistance level on the
8H chart from where price could fall if bearish price action takes place
at the resistance level.
Based on the above information, traders can consider selling AUD/USD@0.6800
with SL above the resistance zone and TP at 0.6630. However, keep in mind
that you should only sell if price struggles to break the resistance and multiple bearish
candlesticks form at the resistance level.
8H chart from where price could fall if bearish price action takes place
at the resistance level.
Based on the above information, traders can consider selling AUD/USD@0.6800
with SL above the resistance zone and TP at 0.6630. However, keep in mind
that you should only sell if price struggles to break the resistance and multiple bearish
candlesticks form at the resistance level.