AUDUSD supply and demand analysis
AUDUSD Australian Dollar versus US Dollar is trading now within a weak weekly demand level around 0,6688. The weekly timeframe has been dropping strongly for the last five weeks and it’s now trying to eliminate weekly demand level at #1 where the prior bullish move started.
The weekly demand imbalance is being attacked, even though price has been dropping for so long, we want that demand level to be eliminated before we think of shorts now. Shorts were possible and available on the way down, now we need current AUDUSD forex cross pair obstacle to be eliminated before taking any decisions.
The weekly demand imbalance is being attacked, even though price has been dropping for so long, we want that demand level to be eliminated before we think of shorts now. Shorts were possible and available on the way down, now we need current AUDUSD forex cross pair obstacle to be eliminated before taking any decisions.