AUDUSD 4hour Analysis December 11th, 2022
AUDUSD Bullish Idea
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking bullish again here on AUDUSD as this large wedge pattern continues to form.
Technically this chart is in an active trade but we will keep looking for rejection from our 0.67000 support zone for further long entries.
If we see a retest of 0.67000 with strong rejection and bullish variations we can comfortably retarget higher toward 0.68500.
Trade scenario 2: If AU is to be considered bearish we would need to see a break below 0.67000 with structure in the form of a lower high below.
Weekly Trend: Bearish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: Looking bullish again here on AUDUSD as this large wedge pattern continues to form.
Technically this chart is in an active trade but we will keep looking for rejection from our 0.67000 support zone for further long entries.
If we see a retest of 0.67000 with strong rejection and bullish variations we can comfortably retarget higher toward 0.68500.
Trade scenario 2: If AU is to be considered bearish we would need to see a break below 0.67000 with structure in the form of a lower high below.
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