Good day, traders. The Australian dollar, which is now in a correction phase, may shortly hit the support and resistance level of 0.680. Right now, the trend is downward. We'll be monitoring AUDUSD during the current trading week and the one after it in case a selling opportunity arises at the 0.680 area.
your best chances are short H3 target L3 (and hope for a break of L4) Or long L3 target H3 (and hope for break of H4). between H3 and L3 will be ranging. Above H4 is further upside to close to H5 (also monthly H3... and maybe a good place for a short). a quick move back under L3 or L4 area reveals this as likely to be a fakeout on the upside. analysis using CPR...
This is June Outlook for EURUSD using Monthly Camarilla Pivots which predict monthly volatility, direction and reversal levels.
Price started trading below monthly Camarilla S1 - Bearish Bias for now.
Trendlines and channels also point move to the downside.
Price is likely to retest liquidity block to the downside.
TD breakout projection sends us there as...
if we reject here at H3 target could be L3 with stoploss at H4. if we break H4 or L4 target would be corresponding H5 or L5 with stop on its corresponding H3 or L3 pivot below or above
