Hi Traders,
AUDUSD is setting up for the next bearish run as we can see on the HTF, price is continuously making lower highs and lower lows moving within a larger descending channel. Price failed to push higher at 0.705 range, instead created a double top and a strong reversal impulse. On the LTF, price is moving correctively towards the upper boundary of the larger correction.
I will be waiting for a bearish confirmation for a sell opportunity, if price breaks out of the channel I will be looking for a sell opportunity around the 0.725 range.
Thanks
Trade Safe