[m.youssif]

AUDUSD Forecast
The AUDUSD still maintain its bearish bias yesterday. The movement below the bullish channel is still a threat to the bullish outlook, but there is a triple bottom formation around 0.9810 indicates potential bottom in nearest term after strong bearish pullback since November 08. We need a clear break below 0.9810 to continue the bearish reversal scenario at least targeting 0.9750 – 0.9650 region. Immediate resistance at 0.9919 (yesterday’s high). Break above that area could trigger further bullish momentum testing 1.0000.

[m.youssif]

AUDUSD Forecast
The AUDUSD still maintain its bearish bias yesterday. The movement below the bullish channel is still a threat to the bullish outlook, but there is a triple bottom formation around 0.9810 indicates potential bottom in nearest term after strong bearish pullback since November 08. We need a clear break below 0.9810 to continue the bearish reversal scenario at least targeting 0.9750 – 0.9650 region. Immediate resistance at 0.9919 (yesterday’s high). Break above that area could trigger further bullish momentum testing 1.0000.