AUDUSD moving higher before moving lower
**Monthly Chart**
Last month closed as a manipulation candle suggesting a continued bearish movement. The next target is around the 0.62700 level. Any short-covering rallies will be a selling opportunity in lower time frames.
**Weekly Chart**
The directional Bias on the weekly timeframe is bearish, the pricing is making higher lows and lower lows as it moves lower. The selling opportunities are more than buying. Therefore, I am still looking to short AUDUSD until it reaches 0.63000 level.
**Daily Chart**
Last week AUDUSD dropped lower during CPI news event on 13th Feb and then moved within a range of the liquidity candle (Balancing). There is an imbalance price action candle above the range at around 0.66000 which I am expecting the price to be tested before moving lower. Therefore, we should carefully select our entries. Good buying opportunities liaise around 0.63000 levels.
Last month closed as a manipulation candle suggesting a continued bearish movement. The next target is around the 0.62700 level. Any short-covering rallies will be a selling opportunity in lower time frames.
**Weekly Chart**
The directional Bias on the weekly timeframe is bearish, the pricing is making higher lows and lower lows as it moves lower. The selling opportunities are more than buying. Therefore, I am still looking to short AUDUSD until it reaches 0.63000 level.
**Daily Chart**
Last week AUDUSD dropped lower during CPI news event on 13th Feb and then moved within a range of the liquidity candle (Balancing). There is an imbalance price action candle above the range at around 0.66000 which I am expecting the price to be tested before moving lower. Therefore, we should carefully select our entries. Good buying opportunities liaise around 0.63000 levels.
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