Possible beginning of a 3rd wave lower although could still remain in a cyclical bull cycle.
Aussie is stuck in a range and we're currently at the top of it. Sellers presence in the last few days are apparent.
I would go for a conservative position with aggressive risk management to protect my position if buyers re-enter aggressively to break the range.
For now,...
Strong bearish trend.
Prices are holding around 159.800 (Red zone).
Great for a quick 2.7R:R.
Could be a role reversal level but seeing there is a strong impulsive bearish move on the 3/22 5:00 UTC, the following moves are very likely corrective moves.
Allow a few extra pips for some breathing space given that this pair is extremely volatile.
Looking to enter...