[m.youssif]

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 1.0151 but closed lower at 1.0091 on broad Dollar strength. We are in critical technical/psychological area where price is now targeting long time high at 1.0182. Long term traders may look for a potential double top bearish scenario around 1.0182 with a big downside target but limited risk ( I personally very interested in doing that) while it’s a good idea for intra-day traders to stand aside until next year before jump into the market. Immediate support at 1.0087 (current low). Break below that area could trigger further bearish pullback testing 1.0000 – 0.9987 support area but nearest term bias remains bullish as long as price moves inside the bearish channel.

[m.youssif]

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 1.0151 but closed lower at 1.0091 on broad Dollar strength. We are in critical technical/psychological area where price is now targeting long time high at 1.0182. Long term traders may look for a potential double top bearish scenario around 1.0182 with a big downside target but limited risk ( I personally very interested in doing that) while it’s a good idea for intra-day traders to stand aside until next year before jump into the market. Immediate support at 1.0087 (current low). Break below that area could trigger further bearish pullback testing 1.0000 – 0.9987 support area but nearest term bias remains bullish as long as price moves inside the bearish channel.