For the past couple of days AUDUSD failed to break 0.75400 resistance zone . And as of 26 April 9.40am Msia Time, prices had a strong rejection. AUDUSD could be heading towards 0.74912. Second target 0.74800. If prices break above 0.7540, it will invalidate this downtrend analysis.
market's had hit 0.74912, with lowest at 0.74890. As of writing, prices could be heading back to 0.74912. If that level breaks, second target will be 0.74800.
taking into account of latest price action, new resistance is at 0.75300. If prices breaks above this resistance, it will invalidate this downtrend analysis.
The markets hit 0.74801 target and my trade is closed. I will pay more attention to 4hr timeframes as it can help me get better price action.
Trade closed: target reached:
trade was closed on apr 26