I am currently still bearish on the AUDUSD pair despite the bullish close on Friday last week. I have plotted two potential fresh supply levels that I am monitoring. I believe the closer 1.7135~ price level will most likely hold up. The 120-period simple moving average also intersects at this level. Historically speaking, this simple moving average setup acts as a dynamic S/R with the potential of holding up at this price level once again. This is a double confirmation, but no guarantees it will hold.
