AUDUSD – ST Bullish, Attacking Key Role Reversal Level | Oct 6

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For now…onto the commentary.

AUDUSD – ST Bullish, Attacking Key RRL Next (daily chart)
Impressively gaining 5 days in a row, the AUDUSD had a strong bull close today and it’s largest one day open-close gain in over 20 days, and 2nd largest in two months. For now ST the pair is bullish and I’m expecting an attack on the RRL – role reversal level around 7260.

My guess is the ST bulls will take some profit here so there may be a good op for bears to get short. Impulsive selling from here would first target 72 and then 7150. Only a daily close above the 73 handle would negate my MT bearish bias.


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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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