Long AUDUSD as Price Consolidates After Big Loss

FX:AUDUSD   Australian Dollar / U.S. Dollar
This is the exact same trade I put on several weeks ago, which benefited from the RBA decision to keep rates the same and the Fed's more dovish comments. That allowed its profit target to be hit relatively quickly, though recent comments from Glenn Stevens of the RBA caused price to fall right back to support. As such, I'm putting on the same trade again. Candlesticks are confirming, at least for the time being, as we are seeing consolidation after a big down day -- a potential sign of exhaustion.


I am also long this pair. We are still in an uptrend. Looking for this pair to make go higher this week. Good luck!
I agree there is sufficient support at that level. I am going to wait after the weekend to see what happens. Market is very quiet due to US holiday.
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