AUD is showing us bullish movements and here are a few things I see: Low Shown on higher timeframe and current
RSI Oversold
Most see this as an indication of price being bullish
Potental Support
As seen at the current wicks
Below EMA
Which can be seen as a potential for price to "re-test"/"bounce"
Summary: We are counter trading the market, since it's been on a downtrend, and no higher low has been shown.
The Goal: Anything above the horizontal solid line near price, or the one higher near the major bearish push, but we must remain patient as the market just opened.
The Con: Market just opened, some might see the market still bearish due to the previous push, so expect heavy volatility .
What do you think about this analysis? Would you like to see more? Let me know in the comments, giving a like on this, or reaching out via Direct Message! - ecryptfx