f_carter93

Range trading opportunity

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD is currently trading in a defined range that has been in play of a while. Price is approaching the the support line of the ranging market as well as the 50 day and 200 day moving average . Stochastic RSI is also in oversold territory. Wait for price to move lower towards the 50 day and 200 day moving average and buy on the bounce. Profit target should be the resistance zone at 0.77199. A stop loss should be placed just below support around 0.00691.

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