AUDUSD Key Level Approach

AUDUSD is in a big downtrend, and after dropping significantly, price started to rise and retrace.

Currently, price is growing and approaching to the yellow resistance level around (0.7170 - 0.7175)

If price retested this key level (0.7170 - 0.7175) and there was any bearish signal in the lower time frames (1H and M15), such as reversal double top pattern or H&S pattern, or any other bearish signal based on your strategy, we can expect a drop on AUDUSD to the last major low around 0.6996

On the other hand, if price breaks the resistance level (0.7170 - 0.7175) to the upside and closes a bullish candle above this area, there’s a probability of growth around 0.7270