I. AUDUSD on 4-hour chart is developing descending move targeting mid-term zones 0.7080/60 and 0.6970/50.
II. In short-term perspective we've come close but haven't yet reached first support area. Likely scenario is AUDUSD slide from 0.7140 resistance down to 0.7080 support.
Once we see bounce back from the mentioned barrier I expect correction up to levels 0.7160, 0.7190. Descending scenario remains as primary until AUDUSD trades below 0.7210.
II. In short-term perspective we've come close but haven't yet reached first support area. Likely scenario is AUDUSD slide from 0.7140 resistance down to 0.7080 support.
Once we see bounce back from the mentioned barrier I expect correction up to levels 0.7160, 0.7190. Descending scenario remains as primary until AUDUSD trades below 0.7210.
Trade active:
Sell order opened at 0.7140
SL 0.7153 TP 0.7085
SL 0.7153 TP 0.7085
