AUDUSD – Bullish Bias – Looking for signs to Buy at 1.0259 stop at 1.0240

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AUDUSD – Downward pressure from 1.0374 (15th Feb high trade) continued yesterday resulting in AUDUSD trading to the most negative level in 20 weeks. However, dips under 1.0225 continued to find buyers and this has occurred again overnight. The pair has now broken through the first resistance at 1.0251 and pushed higher. Our bias is now for further gains but next resistance is located at 1.0296 so risk/reward sis poor to call an outright Buy from the open. With this in mind the call today is Bullish Bias – Looking for signs to Buy at 1.0259 stop at 1.0240. The profit targets will be: 1.0286, 1.0330 and towards 1.0380.

AUDUSD

Support levels are: 1.0259, 1.0246 and 1.0230.

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