AUDUSD DAILY ANALYSIS - PRICE HAS BROKEN TO THE DOWNSIDE

Hey traders,

It was a very slow week for the AUDUSD, but price finally managed to break through to the downside on Friday.

In my previous analysis I said that price touched the blue trendline, before forming several bearish signals: a pinbar, and bearish engulf.

Price was consolidating a bit showing a little bit of indecisiveness, however Friday's close has shown the market's hands.

We had a BIG bearish engulfing bar on Friday.

With a bearish cross on the daily MACD, it looks like the next week or two has bearish signs for the AUDUSD.

The big players are done consolidating their positions and will drive price down is my prediction.

Other confluence factors:
- Weekly bearish close
- DXY is a bullish impulse move up
- EURUSD is bearish as well

Daily trade analysis and ideas:

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