AUDUSD - When Structure Meets Reality
AUDUSD is now retesting a strong technical intersection:
the weekly resistance marked in green is lining up perfectly with the upper bound of the weekly rising channel in blue.⚔️
On top of that, price is sitting in an over-bought zone after an extended push higher.
As long as this intersection holds, the odds favor a bearish correction, with price rotating lower toward the lower bound of the channel. This wouldn’t be a trend reversal, but a healthy reset within the bigger structure.
If this zone gets cleanly broken and accepted above, then the narrative changes.
Until then, I’m respecting resistance and letting structure lead the bias.
⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.
📚 Stick to your trading plan regarding entries, risk, and management.
Good luck! 🍀
All Strategies Are Good; If Managed Properly!
~Richard Nasr