AUD/USD analysis: Bearish trade with upside bias

AUD/USD analysis: Bearish trade with upside bias

In the mid-term, while the price is below 14, 50, and 100 MA, the Fibonacci 61.8 has been supporting price for the last 3 sessions. There is upside bias for now.

Over the long-term, lower directional movement and smaller activity is expected, predictive is down as a result. In conclusion, flow direction is down. Smaller activity presage a lower movement, with 3 days net flow at 7. 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 downside bias.

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