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Hey guys,

Back into the forex realm this morning with a look at the Aussie Dollar. The pair has triggered one of my alarms as it comes back to a higher time frame support zone that you can see on the following daily chart:

AUD/USD Daily

It’s a pretty obvious level, just being the previous swing low. It’s interesting how hard price has fallen back down into it again and being in the huge bearish trend that were in, it’s surely a sign of weakness.

Now we zoom into the intraday chart and wait for a retest of short term previous resistance turned support:

AUD/USD Hourly

IF the higher time frame level holds of course. If it doesn’t, then that’s still your level to manage your risk around, just do it from the other side.

Have a great day!

Peace ✌🏻.

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@forexbrokr | Steemit Blog

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