Here on AUDUSD price form a double bottom pattern and likely to go up if the line 0.63441 break so trader should go for long with expect profit target of 0.65129 .Use money management,# AUD/USD Double Bottom Pattern Analysis
## Key Points
– **Double Bottom Pattern**: The AUD/USD currency pair has formed a notable double bottom pattern which is often indicative of a bullish reversal trend.
– **Key Resistance Level**: A breakthrough above the resistance level at 0.63441 is highlighted as crucial for confirming the upward momentum.
– **Profit Target**: Upon breaking the key level, traders are advised to set a profit target at approximately 0.65129.
– **Risk Management**: Emphasis is placed on the importance of employing effective money management strategies to protect investments against potential volatility.
### Market Outlook
Given the current technical indicators and formation of a double bottom, there is a strong potential for the AUD/USD to rally if the specified resistance is broken. Traders looking to enter long positions should monitor market conditions closely and adhere to a disciplined risk management plan.
Disclaimer. The opinions expressed by our writers are their own and do not represent the views of JustInvestNews . The financial and market information provided on JustInvestNews is intended for informational purposes only. JustInvestNews is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Original article: https://www.tradingview.com/chart/AUDUSD/kBGiljhP-AUDUSD-BUY-ANALYSIS-DOUBLE-BOTTOM-PATTERN/
