AUDUSD:
Weekly: Bullish
Daily: Bullish
4 Hour: Reversed Bearish Trend
After a false-break of the Bullish uptrend on the weekly trendline and failing to continue it's bearish downtrend; I see a retracement back to the original bullish trend in the form of a bullish flag forming below the 4 Hour resistance line. My Bias: The area beneath the 4 Hour Resistance line has seen strong confluence (look left on the Daily time-frame: February/ March), and wouldn't be easily broken but once broken a strong push to the upside is expected. With no major economic data expected, I anticipate the pair trending purely on analysis.
Weekly: Bullish
Daily: Bullish
4 Hour: Reversed Bearish Trend
After a false-break of the Bullish uptrend on the weekly trendline and failing to continue it's bearish downtrend; I see a retracement back to the original bullish trend in the form of a bullish flag forming below the 4 Hour resistance line. My Bias: The area beneath the 4 Hour Resistance line has seen strong confluence (look left on the Daily time-frame: February/ March), and wouldn't be easily broken but once broken a strong push to the upside is expected. With no major economic data expected, I anticipate the pair trending purely on analysis.