AUDUSD Bear Flag Pattern

Hi Traders!

There is a bear flag pattern developing on the AUDUSD 3H chart.

Here are the details:

The price action looks bearish, and the market is currently in a consolidation phase in the flag's channel as the flag pattern is in its early phase. The market is still below the 20 EMA, which is a bearish signal. As long as the market remains below the EMA and flag channel resistance, we will remain bearish on this pair.

Preferred Direction: Sell

Resistance (FLAG CHANNEL): 0.65435
Support (FLAG CHANNEL): 0.64856

Technical Indicators: 20 EMA

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BluetonaFX