AUD/USD Trading Analysis (24/05/2024)
The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator shows the oversold state.
Trading idea:
Buy when the formation of the upward wave structure begins, when the wave A breaches the pivot 2 of the wave C at 0.6607.
Stop-Loss under the local minimum of the descending structure at 0.6590.
Target price levels at 0.6650 and 0.6700.
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