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Two weeks ago AUDUSD wasnt able to break the 200 weekly moving average (green line). It had a false break and this week something similar happened, price went above the 200wma but the most important its that it wasn't able to make new highs and the candle this time was bearish. Like price been trading to the upside for son long, it has a lot of room to retrace, to 0.7850 or maybe even 0.77.
The hourly chart its an update of what I've been writing this week, as expected price fell below the 200 hourly moving average and got to the main target I had for this week after NFP. So price needs to take away this support at 0.7880 to start thinking a bigger retracement its possible. Might take a while or might go up, but as long as it stays below the 100 hourly moving average, the bias for me its to the downside
The hourly chart its an update of what I've been writing this week, as expected price fell below the 200 hourly moving average and got to the main target I had for this week after NFP. So price needs to take away this support at 0.7880 to start thinking a bigger retracement its possible. Might take a while or might go up, but as long as it stays below the 100 hourly moving average, the bias for me its to the downside
