AUD/USD Big Picture!
Sellers have been dominating this pair over the past 11 months, since February 2021.
We're now at an interesting point with price action showing that there's still a bearish flavor in the air!
This Bearish Flag Pattern has been broken on the Daily timeframe, with confirmations of price retesting the structure on the 4Hour timeframe.
Price also rejected a support/resistance zone in the area of 0.71794, and is now forming a Bearish Engulfing candle.
Yes, we have an amazing confluence of technical indicators that supports Bearish expectations and lower prices.
Remember to practice proper risk management when placing trades to avoid blowing your account.
Happy Trading.✅
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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.
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.