AUDUSD Will Go Down From Resistance! Short!

Take a look at our analysis for AUDUSD.

Time Frame: 8h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is trading around a solid horizontal structure 0.642.

The above observations make me that the market will inevitably achieve 0.631 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

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