AUD/USD: Daily

AUD/USD

Are you a trend trader? If you are, then you're going to love long-term buy setup on AUD/USD! After making a new swing high a week ago, AUD/USD is starting to retrace its step and move lower. If this move down keeps on going, price will eventually test the rising trend line support, which will give the bulls another chance to jump in long! After all, the rising trend line does coincide nicely with the area between the 50% and 61.8% Fibonacci retracement levels.