AUD/USD made a long bullish move in the daily chart. The price had a rejection at a level and produced an Evening Star. Since then, the price has been bearish. Friday’s candle came out as a Doji candle closing within the last candle’s highest high. Thus, if the price makes a breakout at Friday’s candle’s lowest low, the sellers may go short in the pair and drive the price towards the South further.
Chart 1 AUD/USD Daily Chart
The chart shows that the price made a long bullish move and had a rejection at 0.74000. A bullish candle closed within the level, and the price produced a Doji candle followed by a bearish engulfing candle. The combination of these three candles produced an Evening Star. Thus, the sellers drove the price towards the downside in the next candle. Friday’s candle came out as a Doji candle. If today’s candle comes out as a bearish reversal candle, the sellers may go short in the pair and drive the price towards the South further. The price may find its next support around 0.70000.
Chart 2 AUD/USD H4 Chart
The chart shows that the price has been in consolidation around the level of 0.73015. If the price produces a bearish reversal candle, the sellers may go short below the level of 0.7225. The price may find its next support around 0.71800. In case of a bullish breakout, the price may find its next resistance around 0.73200.
Chart 3 AUD/USD H1 Chart
The chart shows that the price made a bullish move and had a bearish correction. It has been in consolidation around the level of 0.72750. If the level works as a level of support and produces a bullish reversal candle, the buyers may go long above the level of 0.73000. On the contrary, if the price breaches the level and the level works as a level of resistance, the sellers may go short in the pair and drive the price towards the level of 0.72225.
The H1 and the H4 chart may go either way. However, the daily chart looks good for the Bear. Thus, the H4 and the H1 chart may get bearish today. If that happens and today’s daily candle comes out as a bearish candle having a tiny lower shadow, the sellers in the daily chart may look to go short in the pair aggressively and drive the price towards the South.