AUDUSD: Potential Scenarios Explained 🇦🇺🇺🇸

https://www.tradingview.com/x/u5ykIaRE/

AUDUSD is currently consolidating.
Here are bullish and bearish scenarios for the pair.

Bearish Scenario
The market is currently stuck within a horizontal range on a 4H.
A breakout of its lower boundary - 4h candle close below 0.644
will most likely push the prices lower to 0.64 level.

Bullish Scenario
Above current price levels, we have a solid horizontal supply zone on a daily.
If the price breaks and closes above 0.654, we will expect a bullish continuation to 0.658.

Because the global trend is bearish, probabilities are higher that the market will keep falling.
However, wait for a breakout first.

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