AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish on AU but we can see a bit of choppiness forming just below 0.69500 resistance.
From here, we ideally want to see bearish conviction step in and price action starts falling again. Look to target lower toward major support levels.
Trade scenario 2: For us to consider AU bullish we first need to see a break of 0.69500 resistance.
For me personally I would not consider long scenarios unless I see new structure above 0.70000
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: We are still looking very bearish on AU but we can see a bit of choppiness forming just below 0.69500 resistance.
From here, we ideally want to see bearish conviction step in and price action starts falling again. Look to target lower toward major support levels.
Trade scenario 2: For us to consider AU bullish we first need to see a break of 0.69500 resistance.
For me personally I would not consider long scenarios unless I see new structure above 0.70000