AUDUSD 30min Analysis February 15th, 2021
Price has broken above our weekly zone but is within a strong resistance zone.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of .7765. We will look to enter on strong bullish setups off the weekly zone, first targeting previous highs around .7790
Trade Scenario 2: Bearish - For us to go short we need to see price break below out key weekly with conviction. We will then wait for a retrace and for our weekly zone to act as resistance once again. Enter on strong bearish setups off this zone.
Trade Scenario 1: Bullish - For us to go long we want to see price retrace back to our key weekly level of .7765. We will look to enter on strong bullish setups off the weekly zone, first targeting previous highs around .7790
Trade Scenario 2: Bearish - For us to go short we need to see price break below out key weekly with conviction. We will then wait for a retrace and for our weekly zone to act as resistance once again. Enter on strong bearish setups off this zone.