๐ Potential SELL setup for: AUD/USD
๐ฉ๐ฝโ๐ปTechnical: On the daily chart, the price broke the trendline, but the price is having difficulty breaking lower because of the strong support at 0.6860. Yet, the moving averages are still trending south, suggesting a continued bearish bias for AUDUSD. On the 4-hour chart , we can see that the price tried to break out of the support at 0.6860, but the selling pressure was not as strong enough.
๐ฏ For an ideal entry: If the support level is broken, we can expect a continuation of the downward trend after a push > exhaustion cycle completion. ONLY ENTER IF IT BREAKS OTHERWISE NO ENTRY.
๐ฏ For an ideal entry: If the support level is broken, we can expect a continuation of the downward trend after a push > exhaustion cycle completion. ONLY ENTER IF IT BREAKS OTHERWISE NO ENTRY.