[m.youssif]

AUDUSD Forecast
The AUDUSD failed to continue its bearish correction yesterday and now back above the trend line resistance (white) as you can see on my h4 chart below. The bias is bullish in nearest term still targeting 1.0256 key resistance area/all time high. Any all time high level could be a very strong resistance so although the pressure remains strongly to the upside, a short position near 1.0256 with tight stop loss is acceptable for me. Above 1.0256, new all time high projection could be seen around 1.0400 – 1.0500. Immediate support at 1.0140. A clear break below that area would lead us to neutral zone in nearest term testing 1.0070/50 support area.

[m.youssif]

AUDUSD Forecast
The AUDUSD failed to continue its bearish correction yesterday and now back above the trend line resistance (white) as you can see on my h4 chart below. The bias is bullish in nearest term still targeting 1.0256 key resistance area/all time high. Any all time high level could be a very strong resistance so although the pressure remains strongly to the upside, a short position near 1.0256 with tight stop loss is acceptable for me. Above 1.0256, new all time high projection could be seen around 1.0400 – 1.0500. Immediate support at 1.0140. A clear break below that area would lead us to neutral zone in nearest term testing 1.0070/50 support area.