AUD/USD .. The Pair is Touching the Falling Channel Trendline Support on Monthly and Weekly TimeFrame for a Shorter Duration and Nearing Rising Trendline Support on Monthly and Weekly Timeframes. The Price is approaching a Good Support zone of 0.7700 to 0.7650 which is Tested as a Support While Falling and as a Resistance While Rising Several Times in Last 20+ years.. The Level is Very Important .. The Pair if holds this level, we might see a Nice Bounce to Our First Resistance level of 0.8050, which is a Highly Possible scenario and sustaining and breaking the level may lead to Next level of 0.8530-50, If Breaks Current level.. Still the Downside is limited and we may see 0.7430 as the lowest possible level.. as per the Current Structure.. We see good Risk Reward Ratio and it is seen as a blind buy ... The Views Expressed here are my considerations and presented here for information purpose only, Views of Experts may differ according to there readings.. and as you all Know.. I Like to KEEP it SIMPLE !! Happy Trading !!
