[m.youssif]

AUDUSD Forecast
The AUDUSD began the week with a bullish momentum yesterday, topped at 0.9948 and hit 0.9972 earlier today in Asian session. The bias is bullish in nearest term challenging 1.0000/27 psychological and key resistance area. Clear break above that area could trigger further bullish scenario re-testing all time high at 1.0182 this week. The rising wedge bearish scenario is in a serious threat now as the trend line support (red) did a good job preventing further bearish pressure. Immediate support at 0.9900. Break below that area could trigger further bearish pressure re-testing the trend line support, but only a clear break below the trend line support would give further validation to the bearish reversal scenario.

[m.youssif]

AUDUSD Forecast
The AUDUSD began the week with a bullish momentum yesterday, topped at 0.9948 and hit 0.9972 earlier today in Asian session. The bias is bullish in nearest term challenging 1.0000/27 psychological and key resistance area. Clear break above that area could trigger further bullish scenario re-testing all time high at 1.0182 this week. The rising wedge bearish scenario is in a serious threat now as the trend line support (red) did a good job preventing further bearish pressure. Immediate support at 0.9900. Break below that area could trigger further bearish pressure re-testing the trend line support, but only a clear break below the trend line support would give further validation to the bearish reversal scenario.