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Weekly Timeframe:
Daily Timeframe:
AudUsd Weekly: Current price .68850 and approaching strong monthly resistance .69250 key quarterly psychological zone. By reading price structure we can see we have been creating a series of lower lows and lower highs with a weekly rejection.
Daily: We can see we have been consolidating for some time with a strong daily engulfing off our psych level. If price manages to stay in this range and maintain below .69250 monthly we can anticipate shorts to .66750 key psychological. If price breaks and closes above .69250, we can anticipate .70500.
(risk management is key)