AUDUSD 4hour Analysis July 11th, 2021
AUDUSD Bearish Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All timeframes are bearish on AU and we plan to continue with this trend.
Currently price action is at resistance near 0.74900 and how it reacts here will determine where price moves on this 4hour timeframe.
Ideally we want to spot a reversal at current resistance followed by strong bearish setups to enter short on. Look to target lower toward support at 0.74000
Trade scenario 2: For us to consider AU bullish we need to see a break of resistance at 0.74900 with a confirmed higher low above.
Look to target higher toward key resistance levels.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: All timeframes are bearish on AU and we plan to continue with this trend.
Currently price action is at resistance near 0.74900 and how it reacts here will determine where price moves on this 4hour timeframe.
Ideally we want to spot a reversal at current resistance followed by strong bearish setups to enter short on. Look to target lower toward support at 0.74000
Trade scenario 2: For us to consider AU bullish we need to see a break of resistance at 0.74900 with a confirmed higher low above.
Look to target higher toward key resistance levels.