[m.youssif]

AUDUSD Forecast
The AUDUSD slipped below the bullish channel yesterday, bottomed at 0.9651 but closed higher at 0.9738 and now struggling around the lower line of the bullish channel as you can see on my h4 chart below. The bullish scenario is in a serious threat here, but if price go back inside the bullish channel and consistently above 0.9775 we could have further upside momentum as yesterday’s strong bearish pressure could be just a temporary market reaction after bad CPI number and could produce a false breakdown scenario re-testing 1.0000. Immediate support at 0.9700. Break below that area could trigger further bearish pressure testing 0.9600 and may give us the validation of technical bearish reversal scenario.

[m.youssif]

AUDUSD Forecast
The AUDUSD slipped below the bullish channel yesterday, bottomed at 0.9651 but closed higher at 0.9738 and now struggling around the lower line of the bullish channel as you can see on my h4 chart below. The bullish scenario is in a serious threat here, but if price go back inside the bullish channel and consistently above 0.9775 we could have further upside momentum as yesterday’s strong bearish pressure could be just a temporary market reaction after bad CPI number and could produce a false breakdown scenario re-testing 1.0000. Immediate support at 0.9700. Break below that area could trigger further bearish pressure testing 0.9600 and may give us the validation of technical bearish reversal scenario.