AUD/USD analysis: Bearish trade with downside bias
In the mid-term, the supply level at 0.71449 is still intact. With price below 14, 50, and 100 MA, there is downside bias for now. Over the long-term, lower directional movement and smaller activity is expected. In conclusion, flow direction is down. Smaller activity presage a lower movement, with 3 days net flow at -7. The market ended in a balanced manner. With decrease in volatility, it means less market opportunities. With value area range decreasing and total TPO above decreasing versus total TPO below increasing, it means that the buyers are in control. The total TPO decreased compared to previous day. Data points to limited downside bias.