DESCRIPTION:
Today the AUD/USD is trapped between 1.0325 as the support and 1.0375 as the resistance. This situation already occurred two days ago. If the market has low volatility for a few days, it will indicate that the strong movement will come soon. So we are trapped in the range of this currency pair.
Recommendation:
Buy stop (pending order) at 1.0375.
Take profit 1 at 1.0389.
Take profit 2 at 1.0411 (optional).
Stop loss at 1.0352.
Or
Sell stop (pending order) at 1.0330.
Take profit 1 at 1.0319.
Take profit 2 at 1.0300.
Stop loss at 1.0349.
Best regards,
Official Analyst of InstaForex Group
InstaForex Group
https://instaforex.com
Email: Arief.jakarta@indo.instaforex.com
Disclaimer:
Trading Forex (foreign exchange) on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
