AUD/USD was trending down inside a bearish channel since August 1.
Since it broke the main established low at 0.9942, it declared the structural end of the former uptrend.
Recently, the pair found support from the lower limit of the marked channel manifested in the long bullish daily candlesticks.
Although we had a shooting star daily candlestick confirming our bearish view towards resistance zone around 1.0300, the pair resumed its upside movement against us hitting our SL.
Then we suggested a long position in the previous article which is giving +200 pips in profit till now.
It's important to have eye on 1.0750 which is the structural key-level for the last swing low, if broken we suggest to go long again.
4H closure above 1.0398 was our long signal as we mentioned in the previous article.
Today we had the LONG entry signal at 1.0411 which is +200 pips now.
The next station for the pair is 1.0655 then 1.0750, now it's suggested to have some profits taken at the current prices to offside some risk.
SL for the rest of lot size should be 4H closure below 1.0480.
