Dear traders,

The past few weeks have been quite productive in terms of trading.

The last trade was a short DAX trade that I took.

There was a major supply zone and a bullish rejection candle.

This led the price to drop over 600 points before reversing back.

AUDUSD Trading Analysis

Today, I am looking at AUDUSD.

It has been a while since I have not covered this pair.

I am looking at a major supply zone.

The price has formed an inside day on the daily, which is an additional indication that the trend might reverse.

I will be looking for a confirmation from the 4H chart and then possibly enter in a long trade.

The first potential target looks to be the level of 0.6775.

Happy Trading,

Colibri Trader

p.s.

Have you read my article on Supply and Demand Levels?

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