AUDUSD Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall price action is in a downtrend but we have seen some rejection from support around 0.72000 which pushed price action back into a range.
For us to continue with the bearish trend we need to see a bearish break of support around 0.72000 with a confirmed lower high below.
Trade scenario 2: If we want to consider AU bullish we would need to see a break above resistance around 0.73000 with a higher low above.
We always try to avoid range trading so we will ultimately have to wait for a major break of either support or resistance.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: Overall price action is in a downtrend but we have seen some rejection from support around 0.72000 which pushed price action back into a range.
For us to continue with the bearish trend we need to see a bearish break of support around 0.72000 with a confirmed lower high below.
Trade scenario 2: If we want to consider AU bullish we would need to see a break above resistance around 0.73000 with a higher low above.
We always try to avoid range trading so we will ultimately have to wait for a major break of either support or resistance.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.