After a significant growth, price approached to the resistance level and was pushed to the downside.
Currently, price is facing a downside pressure but is bouncing in a sideways zone between SR levels.
On the other hand, we can see a bearish reversal double top pattern creation.
Price is approaching to the yellow support level around 0.7470, and we should wait to see if it can break this level or not.
If price breaks the support level and closes a bearish candle below this level, I expect a drop on AUDUSD to 0.7385
Otherwise, if price breaks the sideways zone and the red resistance level to the upside, the bearish scenario is canceled and it will rise.
Currently, price is facing a downside pressure but is bouncing in a sideways zone between SR levels.
On the other hand, we can see a bearish reversal double top pattern creation.
Price is approaching to the yellow support level around 0.7470, and we should wait to see if it can break this level or not.
If price breaks the support level and closes a bearish candle below this level, I expect a drop on AUDUSD to 0.7385
Otherwise, if price breaks the sideways zone and the red resistance level to the upside, the bearish scenario is canceled and it will rise.
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