AUDUSD
Updated
On the monthly chart we have a bearish long term outlook. The price completed a correction at 0.90-1. Thereafter we are in a bearish continuation on the monthly chart.
On the weekly charts, we are nearing the end of a bullish correction that may reverse or continue slightly higher. Looking closely, we also seem to be in a consolidation awaiting a proper breakout, our bias presently is a bearish set up though we do not have confirmation.
Presently, on the daily charts, we are waiting for a clear direction, either a break to the upside targeting liquidity at 0.692 or higher targeting the unmitigated supply at 0.7. Alternatively, we could have a break to the downside targeting the liquidity at 0.63 or fresh demand at 0.626.
On the weekly charts, we are nearing the end of a bullish correction that may reverse or continue slightly higher. Looking closely, we also seem to be in a consolidation awaiting a proper breakout, our bias presently is a bearish set up though we do not have confirmation.
Presently, on the daily charts, we are waiting for a clear direction, either a break to the upside targeting liquidity at 0.692 or higher targeting the unmitigated supply at 0.7. Alternatively, we could have a break to the downside targeting the liquidity at 0.63 or fresh demand at 0.626.
Note
Presently we have mitigated previous supply. Bearish trend continues
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