AUDUSD has been in a bearish trend with the formation of lower lows and lower highs. With that, market may stall at the support level and retest back at the resistance level priced at 0.6330. This is the level where we will wait for the bearish price action candles being printed and then continue moving down. 

The support trendline, which is also the descending trendline, has been broken out for sells and another retest will confluence with the resistance level.

There is no retracement indication on this pair.

EMA 50 is still bearish and the market may retest it at the resistance level where it can confluence with other technical parameters.

RSI is at 28. It needs to neutralize at 50 level and set its bearish course in lieu with the technical analysis.

We ride the trend on AUDUSD

Oct 03 2023