AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall AU is still bearish and we are technically in an active trade.
Currently price action is resting right near 0.64000 support and we are waiting for reactions.
The most likely scenario is price action continuing to fall to a new low. If we see a break of 0.64000 we will look for lower highs to confirm more bearish pressure.
Trade scenario 2: If we see a bounce off 0.64000 it is likely price action will push up toward 0.65500 resistance.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall AU is still bearish and we are technically in an active trade.
Currently price action is resting right near 0.64000 support and we are waiting for reactions.
The most likely scenario is price action continuing to fall to a new low. If we see a break of 0.64000 we will look for lower highs to confirm more bearish pressure.
Trade scenario 2: If we see a bounce off 0.64000 it is likely price action will push up toward 0.65500 resistance.