AUDUSD further move lower expected.
Price Altitude: Middle
Daily Trend: Down
4H Trend: Down
Price Analysis: After being stuck in a large range over the last 2 months, AUD has finally broken down into a downtrend.
Anticipated Move: Currently AUD is sitting on top of a 4h demand zone which is typically not a good sign for longs. I anticipatesome chop while sitting on top of the 4h demand @ 0.72829 then a further move lower into daily demand starting at 0.72174.
Price Points of Interest:
4h supply @ 0.73655
Daily demand @ 0.72174
4h demand @ 0.71872
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Daily Trend: Down
4H Trend: Down
Price Analysis: After being stuck in a large range over the last 2 months, AUD has finally broken down into a downtrend.
Anticipated Move: Currently AUD is sitting on top of a 4h demand zone which is typically not a good sign for longs. I anticipatesome chop while sitting on top of the 4h demand @ 0.72829 then a further move lower into daily demand starting at 0.72174.
Price Points of Interest:
4h supply @ 0.73655
Daily demand @ 0.72174
4h demand @ 0.71872
This analysis is meant to be educational, inspirational and confirming of your own analysis. Trade carefully, trade wisely by managing your risk exposure.
Commento:
AUDUSD weakened as expected. It is currently bouncing off daily demand. Ideally I would like to see 0.71872 reached first before taking a long, unless 4h supply zones begin to be removed.