AUDUSD, approaching critical hidden resistance, load up!!??
the cross has clearly indicated its intentions to retest .65 monthly support. but that would be easy if price moved in a straight line, which it doesn't.
this week has seen a cool retracement however friday's closure says extra by rejecting 0.7 price level which is the monthly resistance.
daily time frame however is bullish and has closed bullish, what does this mean. we "should'' test the weekly resistance that awaits at 0.728, and we ''could'' do a daily structural retest too at 0.747, but no further, unless we are turning bullish overall.
that daily retest for me {personally and hopefuly price gets there} would be a superb turning point for continuation of the bearish bias, that is if we do break .728{weekly} and wick to reject that .747, but that's just me, oh well..
this week has seen a cool retracement however friday's closure says extra by rejecting 0.7 price level which is the monthly resistance.
daily time frame however is bullish and has closed bullish, what does this mean. we "should'' test the weekly resistance that awaits at 0.728, and we ''could'' do a daily structural retest too at 0.747, but no further, unless we are turning bullish overall.
that daily retest for me {personally and hopefuly price gets there} would be a superb turning point for continuation of the bearish bias, that is if we do break .728{weekly} and wick to reject that .747, but that's just me, oh well..