AUDUSD – Is Price Ready To Turn?

10 Sep - AUDUSD Daily

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Hi All,

Just a quick update on AUDUSD. My last attempt searching for a bottom was on 9th July (see article) but Price Action did not meet my rules. This time, price is showing me a potential reversal again.

Looking at the chart above, AUDUSD gave me the first higher low (HL) at the end of August and, this morning, price broke above its previous high – making a new higher high (HH). It’s not about the high or the low but the combination of the HL and HH that really excites me.

Is price ready to turn? Or will I get another false break? I’ll let Price Action take the lead before taking any long set ups. Nonetheless, I’m definitely keep a close watch on this.

Thanks for reading and please feel free to send your comments or queries.

 

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