FX.co ★ torp.paris | AUD/USD

AUDUSDHello traders! I'm not a big fan of selling against the main channel on H1, but there is currently an opportunity to do so in this currency pair. The factor supporting sales is the linear regression channel on the M15 chart. Since the channel is pointing south, emphasizing the strength of the sellers, who will try to push down to 0.68565 where buyers are located. I am considering sales from the upper channel boundary at 0.68818. A breakthrough of bear positions will contribute to growth, which could lead to a reversal of the channel in the opposite direction. Bears near 0.68818 will actively defend their positions. They not only have the potential to reach the mentioned level but will also try to establish themselves below it, highlighting the strength of the sellers.

On the hourly chart, the linear regression channel is pointing upwards, indicating the strength of the buyers. Based on the channel position, a bullish trend is in place. The trend is vulnerable to weakening due to bearish presence on M15. Sales are targeted towards the lower part of the hourly channel at the level of 0.68032. The bears' task is to break this level to cancel out the buys. Bulls, on the other hand, aim to sustain the decline to continue rising towards the upper channel boundary at 0.69638. There is a selling opportunity until we reach the specified level. If there is a bullish reaction from the 0.68565 level, I will consider buying. A consolidation below this level will indicate a shift in market interest towards the seller.