[m.youssif]

AUDUSD Forecast
The AUDUSD still able to maintain its bearish correction bias so far and now testing the lower line of the rising wedge formation indicates a critical technical point. A clear break and a daily close below the wedge and 1.0030/50 could continue the bearish correction scenario at least testing 0.9942. Immediate resistance at 1.0140. A clear break above that area would change the intraday technical bias to bullish retesting all time high at 1.0256 but that level should remain a strong resistance area and aggressive traders can still short around that level due to a good risk – reward ratio and psychological reason.

[m.youssif]

AUDUSD Forecast
The AUDUSD still able to maintain its bearish correction bias so far and now testing the lower line of the rising wedge formation indicates a critical technical point. A clear break and a daily close below the wedge and 1.0030/50 could continue the bearish correction scenario at least testing 0.9942. Immediate resistance at 1.0140. A clear break above that area would change the intraday technical bias to bullish retesting all time high at 1.0256 but that level should remain a strong resistance area and aggressive traders can still short around that level due to a good risk – reward ratio and psychological reason.