FX.co ★ Dynaa | AUD/USD

AUDUSD 4-Hour Analysis: I'd want to examine the price behavior of the AUD/USD currency pair. Yesterday, the AUD/USD almost achieved the bearish goal of 0.69870, missing it by just 8 points. However, I have some doubts about getting 0.69870 today. In my AUD/USD analysis, I use exponential averages with periods of 9 and 26 on the M-15 timeframe. The trading indications I employ are very simple: I wait for the moving average intersection, which is now at 0.70028, then join the market after a little price drop. I also utilize risk-profit ratios to inform my trading decisions. Short bets might be beneficial today if you can accurately predict the chart's entry and exit points for the AUD/USD currency pair. I want to sell at the resistance level of 0.70464, hoping that the currency pair will continue to fall to the level of 0.69964. At this point, I'll accept my profit. However, if the structure cannot maintain itself and there is a reversal signal, I will have to accept losses on 0.70764 and convert to buying. The level of 0.70464 will operate as support when resistance is expected, allowing for a buy trade. I support the bullish advance in the AUD/USD pair, given the four-hour candle's extended position on the middle line of the four-hour envelope. Failure to cross this barrier indicates a reversal of the last downward wave, with probable growth to 0.70574. Any failure to break above this level shows the negative trend's durability. As a result, I expect the AUD/USD pair to rise from its present level of 0.70134 to today's resistance of 0.70574, clearing the way for smart sells from the daily high. On the hourly chart, a bearish pattern appeared as the pair approached the minimum goal of the fourth Elliott wave at 0.69714. While I had anticipated an upward continuation to the maximum objective of 0.70184, the price retreated after hitting the minimum, halting the uptrend. As a result, the pair is expected to fall near the goal of Elliott's fifth wave.