AUDUSD moved below the very important blue support line. So, there is a 4 hour supply zone at the top, and daily and weekly demand zones at the bottom. You are likely to come down from the 4 hour supply zone. However, a second upward wave can be expected if the resistance section is strongly broken and the blue support line is rebounded.
Conversely, if it doesn't, there will be a chance for a rebound in the daily and weekly demand zone when it goes down again. Finally, even in the weekly demand zone, we expect the bottom to be renewed again if the rebound fails.
Conversely, if it doesn't, there will be a chance for a rebound in the daily and weekly demand zone when it goes down again. Finally, even in the weekly demand zone, we expect the bottom to be renewed again if the rebound fails.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.