Technical Analysis & Forecast, AUDUSD, H1, 20210113
AUDUSD trend support line started from 21 Dec, 2020. This trendline act as support on 4th and 8th Jan but fail to keep trend and break down at 10th Jan.
Now this line become resistance line and giving us good risk reward trade near 0.7780. We will put stop loss just above the previous high @ 0.7802 and targeting previous support of 4th Jan Low @ 0.7645.
Entry Level : Current @ Market
Stop Loss : Previous High @ 0.7802
TP1 : Previous Support @ 0.7645
Now this line become resistance line and giving us good risk reward trade near 0.7780. We will put stop loss just above the previous high @ 0.7802 and targeting previous support of 4th Jan Low @ 0.7645.
Entry Level : Current @ Market
Stop Loss : Previous High @ 0.7802
TP1 : Previous Support @ 0.7645