reaction to the short-term 50% level at .6893 is likely to determine the direction of the AUDUSD on Monday.
Bearish Scenario
A sustained move under .6893 will signal the presence of sellers. This could trigger a further break into a pair of minor pivots at .6872 and .6860. The latter is a potential trigger point for an acceleration to the downside with .6760 the next major target.
Bullish Scenario
A sustained move over .6893 will indicate the presence of buyers. If this is able to generate enough upside momentum then look for an intraday short-covering rally into .7009.
Bearish Scenario
A sustained move under .6893 will signal the presence of sellers. This could trigger a further break into a pair of minor pivots at .6872 and .6860. The latter is a potential trigger point for an acceleration to the downside with .6760 the next major target.
Bullish Scenario
A sustained move over .6893 will indicate the presence of buyers. If this is able to generate enough upside momentum then look for an intraday short-covering rally into .7009.
Trader reaction to .6926 is likely to determine the direction of the AUDUSD on Thursday.
Bullish Scenario
A sustained move over .6926 will indicate the presence of buyers. If this creates enough upside momentum then look for buyers to take a run at the .7007 to .7043 retracement zone.
Bearish Scenario
A sustained move under .6926 will signal the presence of sellers. This could lead to a test of the 50% level at .6893, followed by the main bottom at .6856. This level is a potential trigger point for an acceleration into a long-term 50% level at .6760.