AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: We were recently in a range but finally price action seems to be breaking out. Currently we're seeing an attempt at a bearish break but we’re waiting for confirmation in the form of a lower high below 0.77150. Look to target lower toward major levels of support.
Technically price action can retrace to 0.77600 and still be bearish. This is why we want to wait for a lower high below the next key level.
Trade scenario 2: For us to consider AU bullish again we would need to see a break above resistance at 0.77600 with a higher low above.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: We were recently in a range but finally price action seems to be breaking out. Currently we're seeing an attempt at a bearish break but we’re waiting for confirmation in the form of a lower high below 0.77150. Look to target lower toward major levels of support.
Technically price action can retrace to 0.77600 and still be bearish. This is why we want to wait for a lower high below the next key level.
Trade scenario 2: For us to consider AU bullish again we would need to see a break above resistance at 0.77600 with a higher low above.