AUDUSD possible bearish

23 Okt

Following the formation of a triple top, the market transitioned into a period of sideways movement, reflecting indecision and consolidation. A breakout has already occurred, and we could witness a short-term retracement toward 0.6675, contingent on the confirmation of support on the 15-minute timeframe. However, if the price fails to hold and reverses downward, the bearish trend may resume. Caution is advised, as a potential Head and Shoulders pattern is developing on the 4-hour timeframe, which could signal a larger trend shift.