Market Analysis of AUDUSD on Wednesday 07 August 2024

2024-08-07 17:36Source:BtcDana

Technical Analysis:
The AUD/USD has given a breakout on the 4-hour timeframe, presenting an excellent buying opportunity during any retracements. With an upside target towards the 0.6600 levels, dips within the range of 0.6520 - 0.6540 should be seen as prime buying opportunities. It's advisable to place stops at the previous swing low to manage risk while positioning for the anticipated upward move.

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