AUDUSD Bearish Idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: The higher timeframes are mainly bullish but 4hour price action looks to be breaking the support of the range. To confirm this we need to see a lower high below resistance at 0.77150. Look to target lower toward support near our weekly (0.76000).
Trade scenario 2: For us to consider AU bullish, we would need to see price action push back into the range with a confirmed higher low. If this happens look for price action to fill the range, target higher toward the top.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish
Trade scenario 1: The higher timeframes are mainly bullish but 4hour price action looks to be breaking the support of the range. To confirm this we need to see a lower high below resistance at 0.77150. Look to target lower toward support near our weekly (0.76000).
Trade scenario 2: For us to consider AU bullish, we would need to see price action push back into the range with a confirmed higher low. If this happens look for price action to fill the range, target higher toward the top.