In the last analysis of AUDUSD pair I pointed out a clear bullish channel that occurred as a correction of dynamic bearish impulse. Yesterday support – lower limitation of this channel -was broken, according to the assumed scenario.
Traders who entered immediately after breakout could secure their position, for example, over 20-period SMA, what when reaching the first goal (0.7390) would give a RR ratio of 2:1.
Other possibility is also waiting for re-test of broken support as a new resistance. However, in this case can be expected that such a re-test may not take place at all, and market will move dynamically to the south.
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In addition, it is also worth to pay attention to important data from US economy, which markets will learn about, among others at 14:30. The most important ones are the ones concerning economic growth (q/q) and basic fixed asset orders for April given monthly.
