AUDUSD broke the upper trendline of the downward channel but failed to break the horizontal resistance at 0.7315. Thus, a confluence of bearish divergence was created on MACD and RSI. I will be seeing the pair retested the flip-zone at 0.7111. A break below the flip-zone will put the pair back inside the channel for consolidation around 0.71 and 0.70. But a bounce on the flip-zone will trigger a LONG trade, a potential for bearish shark pattern with the PRZ set around 0.7405 - 0.7508.
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Comment:
As of this writing, triggers a LONG trade for AUDUSD
