AUDUSD pull back likely, but long term stays bullish
AUDUSD has become a bit overbought.
Px action suggests some correction and consolidation is coming. Based on 4 Hrs chart the most likely pull back tgt level is ard 0,8925. From there, or within 0,8860 - 0,8925 range I would start to look for buy signals.
Current cloud is still too thick, this blocks a bit the short term bullish momentum. However future cloud shows bullish cross, and Chikou Span (dark blue line) will come above price candles in a few days time, with open space ahead.
DMI is bullish too.
So short term it favours bears, but long term bulls have to get ready to enter on pull back, with a stop below 0,8825
Px action suggests some correction and consolidation is coming. Based on 4 Hrs chart the most likely pull back tgt level is ard 0,8925. From there, or within 0,8860 - 0,8925 range I would start to look for buy signals.
Current cloud is still too thick, this blocks a bit the short term bullish momentum. However future cloud shows bullish cross, and Chikou Span (dark blue line) will come above price candles in a few days time, with open space ahead.
DMI is bullish too.
So short term it favours bears, but long term bulls have to get ready to enter on pull back, with a stop below 0,8825