AUD/USD Bulls have taken the price closer to the supply level as I predicted in my earlier analyses.
At this level, the early buyers will certainly take some profit pushing the price a bit lower in the process.
Predicting the Bullish Wave
Therefore, 0.6980 to 0.7050 is an area for the Bears to step in and push the price lower to 0.66 as the buyers have almost reached their targets and I don't think big players will chase the price now before a moderate correction.
At this level, the early buyers will certainly take some profit pushing the price a bit lower in the process.
Predicting the Bullish Wave
Therefore, 0.6980 to 0.7050 is an area for the Bears to step in and push the price lower to 0.66 as the buyers have almost reached their targets and I don't think big players will chase the price now before a moderate correction.
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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.