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AUD/USD: Trade ideas for August 28

  Felipe Erazo

In the H1 chart, the AUDUSD is trying to be kept above 500 EMA with the formation of a bullish pattern. Now, the Aussie is making a retracement, so it is very likely that this pair falls to the support level of 0.9320 (38.2 Fibo level).

If the AUDUSD manages to make a breakout at the resistance level of 0.9360, the next target would be the 0.9390, where is located the 100.0 Fibo extension level, which could strengthen the bullish trend in this pair in the medium term. The RSI indicator stays in positive territory and without showing divergences.

Trading recommendations: Place buy orders if the AUDUSD does a breakout at the resistance level of 0.9360, with take profit at 0.9390.

AUD
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