AUDUSD has been in a bearish trend lately, with the formation of lower lows and lower highs and the fact, there is another bearish impulse pending once the market forms a bearish price action at the resistance level priced at 0.6595. This price will be our area of interest to short the market. Another tap at the resistance level

The ascending trendline has broken out for sells. The validation has been complete and the market needs to print another bearish candle to continue its push down. 

There is no retracement in this bearish structure. 

EMA 50 is still bearish and at the resistance level, I anticipate a retest to form a confluence.

RSI is at 39. It needs to neutralize at the 50 level in order to confluence with the technical factors.

AUDUSD shorts from 0.6595

Dec 06 2023

Stop Loss -0.44%

Holding time 3hr

0.65867

Entry price

0.66156

Stop loss price