AUD/USD Bullish Breakout – Demand Zone Retest Before Targeting 📉 Chart Pattern:
🔻 Formed a descending wedge/channel pattern (yellow dots).
💥 Recently broke out upward — this is typically a bullish signal!
📦 DEMAND Zone (Support):
📘 Blue box labeled “DEMAND zone!” shows a strong area of buyer interest.
🔁 Price is currently retesting this zone — a healthy move after breakout.
✅ Holding this zone could confirm bullish continuation.
🎯 Target Point:
🚀 Marked at 0.65201 — labeled "TARGET POINT 065201".
📏 Measured move suggests this is a realistic bullish price objective.
📊 Technical Indicator (EMA 70):
📉 The 70 EMA (red line) is at 0.64037.
✅ Price is above the EMA, signaling upward momentum.
Upcoming Economic Events:
⚠️ Multiple high-impact news events (USD and AUD flags) are scheduled around April 30 – May 2.
🌪️ Expect potential volatility — manage risk accordingly!
Summary:
✅ Bias: Bullish
🟢 Buy Opportunity: If price holds above demand zone.
🎯 Target: 0.65201
❌ Invalidation: Break below demand zone → support near 0.63255
