AUD/USD Bearish Analysis

13 Feb 2022

Seeing how the Thursday's candle closed with a huge rejection of our 0.72500 quarter level, Then us having on Friday price trade to the downside or being bearish, there's a possibility that price might break the short term uptrend it was in for at least nine days which began when price gave us a bullish engulfing candle at 0.70000 Level, making us believe that it didn't plan to break through 0.70000 Levels allowing us to trade or to push price to 0.72500, Now seeing the last daily candle or closing the way it did and Thursday candle perfectly rejecting the 78.6 Fibonacci retracement level (Giving us another lower high), we might actually get a break of the uptrend which will likely push price back down to 0.70000 - 0.69000 Levels