AUD/USD BEARS TO STILL DOMINATE THE PAIR
As we close the 1st week of September, my future analysis of the pair is as follows
Current Price Action:
The price is currently around 0.66716. My 4 hr tf range is marked between 0.67138 and 0.67669, indicating a potential reversal or consolidation zone. FVP retest area around 0.66973, suggesting a potential level where the price might reverse after retesting. First Target is @ 0.66225 as a first target zone, which is also an area of an unmitigated zone. This could be a significant support level if the price continues to drop—2nd target @ 0.64796, further down and indicating a deeper retracement.
Liquidity Zones
Below the 2nd target area, there's a liquidity area left unmitigated. This area might attract the price if it continues to decline, as it indicates a zone where previous orders were left unfulfilled area of reversal order accumulation is around 0.66716. If the price reacts to this zone, it might attempt to test higher resistance levels again before any further decline.
Current Price Action:
The price is currently around 0.66716. My 4 hr tf range is marked between 0.67138 and 0.67669, indicating a potential reversal or consolidation zone. FVP retest area around 0.66973, suggesting a potential level where the price might reverse after retesting. First Target is @ 0.66225 as a first target zone, which is also an area of an unmitigated zone. This could be a significant support level if the price continues to drop—2nd target @ 0.64796, further down and indicating a deeper retracement.
Liquidity Zones
Below the 2nd target area, there's a liquidity area left unmitigated. This area might attract the price if it continues to decline, as it indicates a zone where previous orders were left unfulfilled area of reversal order accumulation is around 0.66716. If the price reacts to this zone, it might attempt to test higher resistance levels again before any further decline.
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