AUDUSD continued its 4-hour downtrend. There is downward pressure as the correction trend line of the downward wave continues in the 4-hour supply zone.
If an impulse that breaks the 4-hour correction trend line occurs, the daily correction process may cause a large rebound. The target is the daily supply zone, with support above and resistance below the blue support line in the center of the chart.
A strong breakout of the first daily supply zone, or if the retracement is not small and resumes rising again, it will most likely settle above the blue support line. The important thing is to get support again after landing on the line.
If it does not break through the second daily supply zone, it can escalate into a daily downtrend. Then you can come down to the floor.
If an impulse that breaks the 4-hour correction trend line occurs, the daily correction process may cause a large rebound. The target is the daily supply zone, with support above and resistance below the blue support line in the center of the chart.
A strong breakout of the first daily supply zone, or if the retracement is not small and resumes rising again, it will most likely settle above the blue support line. The important thing is to get support again after landing on the line.
If it does not break through the second daily supply zone, it can escalate into a daily downtrend. Then you can come down to the floor.