AUD/USD Trading Analysis (14/06/2024)

The trend is generally up. The downward internal wave structure is truncated. Bears are testing the 200 ЕМА on the H4 timeframe. There is a bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator shows the oversold condition.

Trading idea:

Buy at the beginning of the formation of the upward wave structure, when wave A breaches the sloping channel of the downward truncated structure.

Stop-loss below the local minimum of the descending structure.

Price targets at 0.6666 and 0.6700.

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