- According to the most brokers’ data, more than half of the traders are currently in short positions on AUDUSD. As a result, we recommend considering only Long trades at this time.
- The Profit Ratio reversal indicator doesn't react on upward movement. This means that the movement is not fake.
- The activity of "fresh" bears while the upward movement may indicate that the market crowd still does not believe in a Bullish trend.
- Price broke through the MVP line and rushed up. We consider this a sign for further AUDUSD price increase.
- The first target is at the level of the previous peak - 0.7775, and the second one, in case of an active price increase, is at the level - 0.7805
Chart & Analyst Comments
