AUDUSD Analysis 24/6/19

D1 chart

24/6/19 - Still Daily bearish outlook after newer low made.At Weekly it does look like a double bottom. H4 on uptrend currently nearing the previous support area now become resistance.

Setup: H4 BUY on retracement after breakout. RR 1:2 towards the nearest daily resistance.

Setup: H4 SELL R2 if price fail to break the resistance (double top, lower high price action etc)

H4 Chart

*Remark to observe:
Daily WILL turn bullish when price breaks the daily resistance.
H4 bullish trend turns bearish when price break previous H4 support.

Kommentera:

Price did not reach the identified zone area (to check if the zone marking). Price did retest S1 area and made a new S2.