AUDUSD Daily S/R| Deviation| Bearish Retest| Range

11 Jun 2021Evening Traders,

Today’s analysis – AUDUSD – trading towards its Daily S/R where a rejection is probable,

Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
- Price Action Deviation
- Daily S/R Support

AUDUSD’s immediate price action is impulsive, where a deviation towards the high is probable for a bearish retest.

The range high is the Daily S/R, proving to be a true location and a pivot in price action.

The Daily S/R Support is the immediate objective, holding this level is critical for the range to be intact.

Overall, in my opinion, AUDUSD is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“You become fearful the moment you identify with fear. But once you begin seeing it as an impersonal changing phenomenon, you become free.”
― Yvan Byeajee