ðĄ AUDUSD : Signs of a downtrend
OANDA:AUDUSD
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âĄïļYesterday, the D1 bar in AUDUSD witnessed a decrease, closing above the low of the same bar, initially indicating a false break and subsequently confirming this deceptive move. This implies a weakening stance for AUDUSD D1 near the upper boundary of the cumulative price range. The overall structure of AUDUSD D1 remains in a sideways movement.
âĄïļAlthough AUDUSD experienced a bounce, it retraced, forming a lower price peak. The H1 structure of AUDUSD shows a downward bias. If there is a rebound in the retest mentioned above, it presents a selling opportunity. Alternatively, if the price breaks higher and retests the previous peak, it might be prudent to adopt a wait-and-see approach for a potential buying opportunity.
âĄïļAlthough AUDUSD experienced a bounce, it retraced, forming a lower price peak. The H1 structure of AUDUSD shows a downward bias. If there is a rebound in the retest mentioned above, it presents a selling opportunity. Alternatively, if the price breaks higher and retests the previous peak, it might be prudent to adopt a wait-and-see approach for a potential buying opportunity.
