[m.youssif]

AUDUSD Forecast
The AUDUSD had a significant bullish correction yesterday, topped at 0.9852 and closed at 0.9845 but had a strong bearish pressure earlier today in Asian session hit 0.9760 at the time I wrote this comment. This fact keeps my bearish reversal scenario remains intact but need consistent move below 0.9750 to continue the bearish pressure testing 0.9650 support area. Immediate resistance at 0.9852 (yesterday’s high). Break above that area could trigger further bullish pullback testing 0.9881 – 0.9950 resistance area. CCI still in negative territory both in daily and h4 chart so although the market is likely to remains volatile, the overall bias should remain to the downside.

[m.youssif]

AUDUSD Forecast
The AUDUSD had a significant bullish correction yesterday, topped at 0.9852 and closed at 0.9845 but had a strong bearish pressure earlier today in Asian session hit 0.9760 at the time I wrote this comment. This fact keeps my bearish reversal scenario remains intact but need consistent move below 0.9750 to continue the bearish pressure testing 0.9650 support area. Immediate resistance at 0.9852 (yesterday’s high). Break above that area could trigger further bullish pullback testing 0.9881 – 0.9950 resistance area. CCI still in negative territory both in daily and h4 chart so although the market is likely to remains volatile, the overall bias should remain to the downside.