[m.youssif]

AUDUSD Forecast
The AUDUSD was indecisive yesterday but had some downside pressure earlier today in Asian session testing the lower line of the rising wedge formation as you can see on my daily chart below. Like I said yesterday, 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 even lower as a bigger downside correction scenario after hit all time high could be produced. The bias is bearish in nearest term. Immediate resistance at 1.0090. A clear break above that area would lead us to neutral zone in nearest term as direction would become unclear but would give another chance for another upside pressure testing 1.0140 resistance area. A clear break above 1.0140 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 was indecisive yesterday but had some downside pressure earlier today in Asian session testing the lower line of the rising wedge formation as you can see on my daily chart below. Like I said yesterday, 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 even lower as a bigger downside correction scenario after hit all time high could be produced. The bias is bearish in nearest term. Immediate resistance at 1.0090. A clear break above that area would lead us to neutral zone in nearest term as direction would become unclear but would give another chance for another upside pressure testing 1.0140 resistance area. A clear break above 1.0140 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.