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Godfather-Pips
Feb 20, 2021 4:24 PM

AUDUSD Short

Australian Dollar/U.S. DollarFXCM

Description

There is a bullish trend on the WEEKLY timeframe for the AUDUSD pair.
On the DAILY timeframe there has been a couple of different support and resistance ZONES.
On the H4 timeframe we can see the 1 and 2 ZONE.
Currently, the price has extended to no man's land.
The final candle shows that there may be some bearish pressure as indicated by the bottom wick.
In the next week we could see a move to the resistance of ZONE 2 and possibly a move towards the support of the same ZONE.
Comments
rcjugg
AUD been experiencing high bullish momentum recently, I agree a correction is on the way over the next trading week
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