AUD/USD pulled in breakout traders when the price broke 0.7000 and reached the 0.7060s. At this juncture, the peak formation is starting to get locked in but there needs to be a break below 0.6900 to seal the prospects of a prolonged downtrend.
The following illustrates such a scenario from a bearish bias looking at the daily and short-term timeframes.
The following illustrates such a scenario from a bearish bias looking at the daily and short-term timeframes.
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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.