MAY WK III AUD/USD
- The daily time and higher timeframe are bearish but we seen a very strong 4hr bullish trend.
- From the current level we will be able to decide if the overall bearish trend will continue or if this 4hr trend will push price action higher and start the daily trend transition
- Price action is currently at the 88.6% and could see a strong reversal from our weekly resistance. Ideally we want to see a break and retest of 0.64000 to confirm a bearish transition
- Look to target lower 0.60300 if good bearish volume presents itself after a confirmed lower high.
- From the current level we will be able to decide if the overall bearish trend will continue or if this 4hr trend will push price action higher and start the daily trend transition
- Price action is currently at the 88.6% and could see a strong reversal from our weekly resistance. Ideally we want to see a break and retest of 0.64000 to confirm a bearish transition
- Look to target lower 0.60300 if good bearish volume presents itself after a confirmed lower high.
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