There May Soon Be a Change in the Direction of AUDUSD

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For a long time, the market is rapidly declining, gradually approaching the lower wall of the yellow channel.

Most likely, the support level of 0.682, which is on this bound, will be reached soon. Then, if the support withstands the pressure, we will see a rebound, and the bulls can start moving the price in an upward direction to the resistance level, which is on the upper wall of the yellow channel.

Thus, there may soon be a change in the direction of the trend.

An alternative scenario can be implemented if the 0.682 level is broken below, in which case the bullish option may be called into question, and the decline will continue for an indefinite time.


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