FX.co ★ USDCAD Potential Rise to Previous overlap resistance

Description :

Looking at the H4 chart, my overall bias for AUDUSD is bullish as the current price is below the Ichimoku Cloud. Looking for a pullback buy entry at 1.35208 where the recent overlap support is. We are looking to take profit at 1.37035 where the overlap resistance and 61.8% Fibonacci line are, Stop loss will be placed at 1.34446 where the recent overlap swing low is.

Trading Recommendation

Entry: 1.35208

Reason for Entry:recent overlap support

Take Profit:1.37035

Reason for Take Profit:

overlap resistance and 61.8% Fibonacci line

Stop Loss:1.34446

Reason for Stop Loss:

recent overlap swing low