AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking very bearish here on AU as last week we saw huge downside movement. Currently, price action is resting at support near 0.70000, our monthly level.
Ideally, we see price action continue to form structure and are able to spot some lower highs near 0.71000 for potential short opportunities.
Trade scenario 2: If price action fails to react at 0.70000 support look for a clean break and retest with a confirmed lower high below before entering any sell positions.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are looking very bearish here on AU as last week we saw huge downside movement. Currently, price action is resting at support near 0.70000, our monthly level.
Ideally, we see price action continue to form structure and are able to spot some lower highs near 0.71000 for potential short opportunities.
Trade scenario 2: If price action fails to react at 0.70000 support look for a clean break and retest with a confirmed lower high below before entering any sell positions.