AUD/USD Price Analysis: Bulls run up to a wall of H4 resistance
|- AUD/USD has been moving in on the higher liquidity mid-week.
- Bears need a break below 0.7190 for downside prospects.
As per the start of the week's analysis, AUD/USD Price Analysis: Bears moving in, eyes for restest of H1 lows, the price is moving in on higher liquidity as follows:
Prior analysis, AUD/USD H4 chart
In the above chart from yesterday, the liquidity near the 61.8% ratio was identified and has been tested in price action today as follows:
The W-formation might be expected to pull in the price to the neckline and if the bears take over there, then the downside will be to play for.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.