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- AUD/USD Price Analysis: Bears prowl and are moving in with 0.7450 eyed
AUD/USD Price Analysis: Bears prowl and are moving in with 0.7450 eyed
- AUD/USD bears take charge and are moving in for the kill.
- 0.7450 is the focus for the sessions ahead.
AUD/USD is under pressure below a wall of resistance on the daily chart and is in the hands of the bears leaving the focus on the downside. The prior resistance has a confluence with the 50% mean reversion target while the 21-day moving average is aligned in this area as well for additional confluence:
AUD/USD daily chart
AUD/USD H4 chart
From a 4-hour perspective, the pair is making tracks to the downside following a test of the 61.8% Fibonacci retracement of the prior bearish impulse and the 21 moving average. Bears will be seeking a break of the 0.7450s for a faster trip to 0.74 the figure.
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