[m.youssif]

AUDUSD Forecast
The AUDUSD still show insignificant movement yesterday. There are no changes in my daily outlook, where the major bullish scenario remains intact with potential downside correction indicated by the rising wedge formation. We are in a critical phase here and although the major technical bias remains bullish, short position around the all time high 1.0256 is acceptable for me due to a very good risk – reward ratio. Immediate support remains at 1.0030/50 and the lower line of the rising wedge formation which could be a key support area at this phase. A clear break below the rising wedge formation would open the door for further bearish correction at least testing 0.9942 even much lower.

[m.youssif]

AUDUSD Forecast
The AUDUSD still show insignificant movement yesterday. There are no changes in my daily outlook, where the major bullish scenario remains intact with potential downside correction indicated by the rising wedge formation. We are in a critical phase here and although the major technical bias remains bullish, short position around the all time high 1.0256 is acceptable for me due to a very good risk – reward ratio. Immediate support remains at 1.0030/50 and the lower line of the rising wedge formation which could be a key support area at this phase. A clear break below the rising wedge formation would open the door for further bearish correction at least testing 0.9942 even much lower.