AUDUSD is currently in the 4 hour demand zone. A rebound from here and again above the blue support line will increase the chances that AUDUSD is on an uptrend. The reason is that the starting point is a 4-hour bullish pattern that rises from the weekly demand zone and becomes a 4-hour bullish wave.
If so, we may see a renewing high.
However, if the rebound fails in the 4-hour demand zone and fails to settle above the blue support line, we will see the bottom again.
Watch the action today near that blue support line.
If so, we may see a renewing high.
However, if the rebound fails in the 4-hour demand zone and fails to settle above the blue support line, we will see the bottom again.
Watch the action today near that blue support line.