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AUD/USD Price Analysis: Bears lurking in resistance, eyes on 0.6550s
As per the prior analysis, AUD/USD Price Analysis: Bulls could be lurking at the fresh cycle lows but continuation not off the table, the bulls have indeed started to correct from the fresh lows, but still, the bearish bias persists as the following will illustrate. The M-formation on the daily chart was expected to act as the peak formation in a correction and lead to a move lower to break the structure on the downside. chart AUD/USD H4 chart: chart The four-hour chart´s 50% mean reversion level near 0.6710 aligned with the neckline of the pattern that could continue to act as resistance. chart The price ... (full story)