AUDUSD: Up or Down (Waiting and Watching)
Weekly there is potential support from the 50 week moving average (0.7745), on the daily there is resistance at 0.7775 the current rise may be a retest of this level. On the H4 we are seeing a test of the 20 EMA from below.
Looking to H1 there is a shorter term, bullish flag a break out would not be valid IMO unless the 0.7775 level also breaks and holds
W1: Double Top to 200, bearish signs on RSI major support at 0.7500
D1: 20 EMA crossing down the 50, and hovering on the 200 EMA right now.
H4: Behaviour Looks indicitave of consolidating to rise, price action is behaving a little bullish, there is a flag rather the normally demonstrated quick railroad track or pin bar to the 20 EMA.
Looking to H1 there is a shorter term, bullish flag a break out would not be valid IMO unless the 0.7775 level also breaks and holds
W1: Double Top to 200, bearish signs on RSI major support at 0.7500
D1: 20 EMA crossing down the 50, and hovering on the 200 EMA right now.
H4: Behaviour Looks indicitave of consolidating to rise, price action is behaving a little bullish, there is a flag rather the normally demonstrated quick railroad track or pin bar to the 20 EMA.
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