#AUDUSD 1DAY

AUDUSD (4H Timeframe) Analysis

Market Structure:
The price has been in a downtrend but has now broken above the downtrend resistance, signaling a potential shift in market direction. A breakout from this level suggests that buyers are gaining strength, possibly leading to further bullish movement.

Forecast:
A buy opportunity may arise as the breakout indicates a change in trend. Waiting for a retest of the breakout level for confirmation can provide a stronger entry point.

Key Levels to Watch:
- Entry Zone: A buy position can be considered after a successful breakout and retest of the previous resistance as support.
- Risk Management:
- Stop Loss: Placed below the breakout level to minimize risk.
- Take Profit: Target key resistance zones where price may face selling pressure.

Market Sentiment:
The breakout of the downtrend resistance suggests that bullish momentum is increasing. A confirmed retest with strong price action can provide better confirmation for an upward move.