Long

AUDUSD → Retest of the imbalance zone before growth

on the back of strong dollar decline has all chances for further growth, but today, Friday, the risks are quite high, as NFP is ahead...

The currency pair is forming a local uptrend, in tandem with the falling dollar the Aussie may continue its strengthening course.
On the 4H a local correction to the imbalance zone is forming, where a rather strong support line 0.63 is just passing. The price is forming a false breakout and after capturing liquidity is trying to consolidate higher. If the bulls can keep the defense above 0.63 - 0.633, the price will be able to continue the growth phase in the short and medium term.

Support levels: 0.63, 0.6255
Resistance levels: 0.633, 0.6363

Consolidation above 0.63, subsequent rise and consolidation above 0.633 is an ideal scenario that could confirm the bulls' intentions to go higher. But, NFP and other news are ahead. Risks are rising and we should expect high volatility in the markets

Regards R. Linda!

RLinda

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