AUDUSD daily timeframe:
The pair has been in a downtrend for a month and early this week has bounced from the weekly support zone
.
We expect a daily corrective move and another impulse to the upside next week.
AUDUSD 4-hour timeframe:
On the lower timeframe, the pair broke the 4-hour down-trendline and we have two scenarios:
1.Another move to support line, a break of the bullish flag and a retest, then an impulse to the upside;
2.A move to the 4-hour support zone and 0.5 fibonacci level then an impulse to the upside.
.
We will post an update later.
The pair has been in a downtrend for a month and early this week has bounced from the weekly support zone
.
We expect a daily corrective move and another impulse to the upside next week.
AUDUSD 4-hour timeframe:
On the lower timeframe, the pair broke the 4-hour down-trendline and we have two scenarios:
1.Another move to support line, a break of the bullish flag and a retest, then an impulse to the upside;
2.A move to the 4-hour support zone and 0.5 fibonacci level then an impulse to the upside.
.
We will post an update later.