0.7620-30 zone is good resistance for this pair. Audusd struggling near to this resistance and its bullish rally paused on that zone. So this pair should fall due to selling pressure on it. Below this resistance, we need to take sell entry and SL will be above 0.7630 level. Tp will be 30-50 pips.
If 0.7630 resistance broken, then we should take buy entry with 30 pips SL, TP 30-70 pips.
In our Previous day Audusd analysis, we discussed head and shoulder pattern. This pair has just completed its right shoulder. Now we need to wait for the breakout of the neckline as mentioned in the previous lesson. Hope we can expect some bearish rally on this pair.
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