AUDUSD – Possible Double Bottom – Bullish above 1.0216

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AUDUSD – Levels close to Tuesday’s high (1.0367) found selling interest yesterday resulting in AUDUSD posting the most negative daily performance since the 24th Jan. With intraday signals for sentiment at oversold extremes, the selloff is stalling close to the previous low at 1.0228, and the intraday chart is posted signs of indecision. Although signals are not strong, and we need to see a clear break of 1.0257 to confirm a change of trend, with risk/reward ample, we look to call a buy trade this morning. The call is Bullish above 1.0216. The profit targets are1.0257, 1.0290 and 1.0330

The risk would be selling through a stop of 1.0216, a clear break of 12th Feb low trade

AUDUSD