FX.co ★ Musadiq-Azeem | AUD/USD

AUD/USD PAIR REVIEW The situation is currently pending on the price of the AUD/USD currency pair. Seriously, I never expected the experience to happen so quickly. I was waiting for a move above the support line of the charted channel. But the reality that came before me was not in accordance with my belief. I thought there would be a consolidation phase between the resistance level of 0.6620 and the extended support line. Volatility in the Australian-US dollar pair is not necessarily affected by fundamental factors, as such significant changes do not occur by chance on a daily basis. The AUD/USD pair was hovering around the lower boundary of the H4 uptrend channel, which was close to the upper trend line. A possible recovery is expected from this situation, which will allow further prices. This assessment suggests that it would be appropriate to give the first priority to the breakout, where the target band position is set at the 100% Fibonacci level, i.e. 0.65876. This strategic decision is not only in line with the current market dynamics but also provides ample opportunity for traders to earn profits. But sure, friends, it's always important to follow AUDUSD market directions. It is important to study trading according to skill and knowledge as well as experience, so that the society can understand the market changes. Additionally, robust risk management protocols need to be implemented as needed to avoid losses from vulnerabilities and preserve trading capital. By using stop-loss orders and maintaining tight positions between predetermined trades and limits, traders can better and more effectively anticipate the inherent uncertainty of the market's future. Overall, the AUDUSD market presents a dynamic landscape full of opportunities for traders. With a detailed analysis of Fibonacci levels and a keen eye on market sentiment, traders can prepare themselves for strategic positions to take advantage of new trends and achieve successful results.