AUDUSD retested the support level of 0.62700
👉General outlook
AUDUSD has been trading in a bearish trend for the last couple of hours. The pair dropped to the support level of 0.62700.
👉Possible scenario
The best way to use this opportunity is to place a Buy order at 0.62710.
Set your stop loss at 0.62540 below the previous low ($1.70 loss for 0.01 lot) and take profit at 0.62880 ($1.70 profit for 0.01 lot).
The risk-reward ratio for this order is 1:1.
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