AUDUSD 4hour Analysis October 23rd, 2022
AUDUSD Neutral Idea
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: AU saw some bullish movement at the end of last week and price action is now resting near our 0.64000 resistance level.
Price action did break a significant level and pattern but i’m not convinced we are bullish yet. Ideally we can spot structure above 0.64000 to get behind a bullish 4hour outlook.
Trade scenario 2: For us to consider AU bearish again we would need to see a lower high below 0.63250. That would be the most comfortable scenario.
Weekly Trend: Bearish
Daily Trend: Bearish
4Hour Trend: Bearish
Trade scenario 1: AU saw some bullish movement at the end of last week and price action is now resting near our 0.64000 resistance level.
Price action did break a significant level and pattern but i’m not convinced we are bullish yet. Ideally we can spot structure above 0.64000 to get behind a bullish 4hour outlook.
Trade scenario 2: For us to consider AU bearish again we would need to see a lower high below 0.63250. That would be the most comfortable scenario.