AUDUSD 4hour Analysis December 27th, 2020
AUDUSD Long idea
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: AU is still very bullish but is at key resistance. We will continue to ride with the bullish trend and look for conservative entries only. Ideally we want to see a break and retest of 0.76000 with a higher low above before we can comfortably take long positions.
Trade scenario 2: For us to consider short scenarios we need to see a break below 0.75250 with a confirmed lower high. Target lower toward key support around 0.73350.
Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bullish
Trade scenario 1: AU is still very bullish but is at key resistance. We will continue to ride with the bullish trend and look for conservative entries only. Ideally we want to see a break and retest of 0.76000 with a higher low above before we can comfortably take long positions.
Trade scenario 2: For us to consider short scenarios we need to see a break below 0.75250 with a confirmed lower high. Target lower toward key support around 0.73350.