AUDUSD potential bearish movement
On Daily timeframe, price is making higher highs and higher lows so AUDUSD is overall bullish.
However, price is approaching a strong resistance / supply area so we will be looking for objective sell setups on lower timeframes as price approaches it.
On H1 timeframe, price is currently forming a wedge pattern, and we are waiting for an objective break below our lower trendline to sell this one.
We also have Divergence on MACD giving us an early alert that a potential reversal might happen.
For now, we are still overall bullish on AUDUSD, as long as price is trading inside our wedge pattern.
On Daily timeframe, price is making higher highs and higher lows so AUDUSD is overall bullish.
However, price is approaching a strong resistance / supply area so we will be looking for objective sell setups on lower timeframes as price approaches it.
On H1 timeframe, price is currently forming a wedge pattern, and we are waiting for an objective break below our lower trendline to sell this one.
We also have Divergence on MACD giving us an early alert that a potential reversal might happen.
For now, we are still overall bullish on AUDUSD, as long as price is trading inside our wedge pattern.
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Use Coupon: TV6 on www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal