AUDUSD 4H | looking for Bullish revenge?

4월 11일

Pair of Name AUDUSD
Time Frames : 4H
Direction : Long
Type : Pattern Lower to upper band
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CPI numbers came out, DXY skyrocketed. and the drop of the EUR/USD GBP/USD NZD/USD & AUD/USD. The pairs are now seeking revenge. the pair AUDUSD which we are currently looking at has good potential for this. A clear support zone has been made at area 0.64850$. After the price being down here many times. And retested its strength We can see that this is a potential trade area and Price just made a bounce off it again today. Meaning if this area breaks, we can look for Price going down to year low maybe at area 0.62710$ and also a bearish sell side has also occurred. With the monthly high at area 0.66680$. The monthly high is showing high rejection at this area, meaning that bears are supporting the high. It all depends on where price breaks. Does price break the bearish sell side? Or the bullish buy side?

Summary

• Wait for the monthly high or the monthly low to break.
  

• ( monthly high area 0.66680$ / monthly low area 0.64790$ )
  

• Set alerts and wait for breakout
  

Hope this helps you!