The market has been less volatile than the early sessions of the week but today the US will have many important news, you need to be wary of the USD. Remember, look at the charts closely and then choose the right forex trading strategies for each pair.
Price did not change much yesterday, just adding an uncomfortable whipsaw. We are still inclined to buy in but need a convincing signal. Continue to wait patiently and not eliminate the possibility that the price might reach the lower boundary of the channel before returning to the uptrend.
Price approached the target of 1.109. Looking at the price action we can see that the buyers are weakening. On the daily chart, there were also ominous signals at MA20. Therefore, previous buy orders should consider closing, or postpone the Stop Loss to reduce the risk. Those who are trading in the medium term are waiting for opportunities to return to sell in a downtrend.
The price could not reach the upper boundary of the accumulation zone and turned around slightly. A bearish signal has appeared on the daily chart. The amplitude is still high, so it might consider selling in short-term and target around 1.280.
What we were afraid of yesterday happened, the stiff resistance zone of 1.332 was broken, which means that the price is escaping a large range on the daily chart. Today's view changed, and we could buy in an uptrend. The target is the zone of 1.342.
AUD/USD broke out of the sensitive price point and continued the previous downtrend. However, the margin to the next support area is not much, the sell orders do not have a good RR ratio, limiting short-term selling. For short-term reversal players, you can wait for the signal to increase at 0.650, whose RR level is really good.