#AUDUSD Analysis into profit!

In the above chart, we can clearly observe a Change of Character (CHOCH) occurring at the price level of .6480. This significant pattern is identified using the Advanced Pro Charts, which provide a comprehensive analysis of market trends and price movements. The CHOCH indicates a potential shift in market sentiment and behaviour, suggesting that the price may be transitioning from a bearish phase to a more bullish outlook.

As we analyse the chart further, it becomes evident that the price is now making its way toward the target level of .6612. This target represents a key resistance point that traders and analysts will be closely watching for potential breakout opportunities. The movement towards this target suggests a growing momentum in the market, driven by increased buying activity and positive sentiment among investors.

It is important to note that the CHOCH at .6480 serves as a critical support level; thus, maintaining a HOLD position at this juncture is advisable. Holding onto positions during this phase allows traders to capitalize on the anticipated upward movement towards .6612. Should the price successfully breach this target, it could open the door for further gains, potentially leading to even higher price levels in the future.

In summary, the combination of the CHOCH at .6480 and the upward trajectory towards the target of .6612 presents a compelling case for traders to remain vigilant and consider holding their positions. The Advanced Pro Charts offer valuable insights into these market dynamics, enabling traders to make informed decisions based on current price actions and potential future movements.

Chris