🔰 AUD/USD — Daily Outlook 🔰🔹 The next Resistance from here is 0.77500 — Above this line, AUDUSD will turn Bullish
🔹 The next Support Zone is 0.7640 — Below this Zone will be extremally Bearish — A retest on this Zone is possible
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AU
Gold still rangebounddec 8, dec 21, and jan 6 saw highs, then a fall back to the trendline. if it does not fall under, we should see a rise back up to the previous 1961 high by the end of next week/beginning of the following week. shortterm still looks bullish asid from these occasional overnight megasells.
in terms of fundamentals, i think the next few weeks could see sideways or downside movement because of shortterm USD bullishness and the inauguration of biden, but that will dissipate pretty soon after with more extreme fiscal spending. a democrat congress and executive branch will be very bullish as any bill for higher minimum wage, UBI, infrastructure spending, mortgage forbearance, and new social programs will be able to scoot by without any backlash.
AUDUSD H4 AUDUSD H4
As u can see price in healthy uptrend, price is respecting 50 ema. I think price completed the swing to the top north which is indicated by the bearish engulfing candle. I believe there should retracement to the previous broken resistance which aligns with 50 EMA and look for how price reacts. If we get any buy signals candle stick patterns then we can enter.
AUDUSD
AUDUSD Weekly
On the weekly price is coming to the key level that was respected in the past. There might be a retracement for couple weeks after which price will complete ABCD pattern.
AUDUSD Daily
1.7650 Looks very important level to me. We should look how price is gonna react next week on this level. If price shows any signs of reversal, there is 250 pips room below that level which we can capture
AUDUSD H4
On this TF we can see a rising wedge pattern.