AUDUSD: Next pump will be a sell entry.

21 Sep 2023

AUDUSD is trading inside a Channel Down pattern since the start of the year with the price consolidating at the moment on its bottom. Naturally, the 1D technical outlook is bearish (RSI = 41.632, MACD = -0.003, ADX = 25.040), under both the 1D MA50 and 1D MA200. The LL was made marginally over Fibonacci 2.0 extension, so there is a strong symmetry with the prior bearish wave. If it continues, we should be expecting a new rejection a little over the 1D MA50 to a new LL. Our sell target will be on S1 (TP = 0.62730).

Prior idea:

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