Buy AUD/USD at 0.8750. Take profit @ 0.8830 & 0.8890.
Stop Loss – A close below 0.8700
On the daily charts, the pair reached and bounced off the support level 0.8700, and formed a Double Bottoms Pattern. The daily candle covered yesterday’s candle which is known as a bullish engulfing pattern. . Both oscillators, the RSI and CCI on the daily charts are in the negative zone which indicates that the pair is over sold, confirming our new Forex trading signal.