AUDUSD Local S/R| Daily S/R| Price Action| Trend

Evening Traders,

Today’s analysis – AUDUSD – price action is trading towards a key trade location where a reversal is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Support
- .618 Fibonacci Confluence
- Low Volume
- Trend

AUDUSD’s immediate price action is trading impulsive and is trading at a trade location that is in confluence with the Local S/R and the .618 Fibonacci, allowing for a long bias.

The current volume profile is below average, an influx is needed on the next expansion.

The trend is current up with consecutive higher low, a continuation if more likely.

Overall, in my opinion, AUDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee