Last week AUDUSD performed as expected. This week we look forward for continuation of the bearish movement of this pair.
The price is currently at 0.74403. On Monday, I expect the price to retest the 0.74762 support turned resistance level and then head to 0.74114 support level.
So, there is a good entry at 0.74762 level to go short.
The price can go two ways..
1. Price heads down to 0.74114 level without retesting 0.74762 level. it retests the 0.74114 level and goes to 0.73314 support line.
2. Price retest the 0.74762 broken support turned resistance area and does next steps as mentioned above.
The price is currently at 0.74403. On Monday, I expect the price to retest the 0.74762 support turned resistance level and then head to 0.74114 support level.
So, there is a good entry at 0.74762 level to go short.
The price can go two ways..
1. Price heads down to 0.74114 level without retesting 0.74762 level. it retests the 0.74114 level and goes to 0.73314 support line.
2. Price retest the 0.74762 broken support turned resistance area and does next steps as mentioned above.