AUD/USD has been bearish for the most part but has been stuck in consolidation which could be identified as a correction.
The price has formed an expanding pattern which in this context is a continuation pattern. There is a smaller expanding pattern with in the previously mentioned one which in its own context signifies a reversal, adding confluence for a sell.
The dollar has recently been strengthening and this will likely lead to the continuation of this bearish move.
Price has also broken structure to the downside, forming a lower low, bearish structure.
AUDUSD
The price has formed an expanding pattern which in this context is a continuation pattern. There is a smaller expanding pattern with in the previously mentioned one which in its own context signifies a reversal, adding confluence for a sell.
The dollar has recently been strengthening and this will likely lead to the continuation of this bearish move.
Price has also broken structure to the downside, forming a lower low, bearish structure.
AUDUSD