AUD/USD analysis: Bearish trade with downside bias

AUD/USD analysis: Bearish trade with downside bias

In the mid-term, new supply level was created at 0.71449, and the price has broken through support level at 0.7119. With price below 14, 50, and 100 MA, there is downside bias for now. Over the long-term, lower directional movement and greater activity is expected. In conclusion, flow direction is up. Greater activity presage a limited higher movement, with 3 days net flow at -1. The market ended in non-balanced manner. With increase in volatility, it means more market opportunities. With value area range increasing and total TPO increasing compared to previous day, data points to limited upside bias.

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