Technical Analysis for AUDUSD - H1 Timeframe - December 29, 2021

- AUDUSD is below MA and below Pivot Point. RSI is below 50 level. Down Trend is observed.
- Price is following upward triangle but could not sustained above up the top trend line, reversing from here will make it move downward.
- Good example for consolidation at top with narrow range is formed.
- Alternative Scenario – One can wait for it to check S2 - 0.72073 (Horizontal Line) Below that intraday down trend may start.
- Watch out levels for intraday trading.