Elliottwave Analysis: AUDUSD, profit target met, re-buy at market
|AUDUSD touched 0.7605 overnight.
Price formed a potential exhausting bar, but support is clustered at 0.7515, 0.7470 and 0.7430.
In other words, even if Dollar Index have another 1% rising to 94.40, the downside of Aussie should be limited from current level.
The long position from 0.7453 reached profit target at 0.7574 yesterday.
I suggest to closing short position from 0.7602 at market and re-initiate long positions.
Close below 0.7410 will negative the current bullish view.
AUDUSD Trade Idea:(spot 0.7569)
①Buy @ market SL @ 0.7410 Take Profit @ 0.7659
②Buy Limit @ 0.7526 SL @ 0.7410 Take Profit @ 0.7685
Intraday Trade Idea:
①Buy Limit @ 0.7536 SL @ 0.7520 Take Profit @ 0.7571
②Sell Limit @ 0.7644 SL @ 0.7675 Take Profit @ 0.7616
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