FX.co ★ Tips for trading AUD/USD

Following a prolonged fall, where the pair updated the lows, AUD/USD rose in price at the start of today's US trading session.

Seeing a false breakout in the May high located at 0.64600, market players could consider long positions, with the aim of holding until the breakout of the sellers' platform at 0.69. Take profit at the breakout of 0.69.

The trading idea came from the framework of the "Price Action" and "Stop Hunting" strategies.

Good luck in trading and don't forget to control the risks! Have a nice day.