AUDUSD 4hour Analysis April 17th, 2022

AUDUSD Bearish Idea

Weekly Trend: Bullish
Daily Trend: Bullish
4Hour Trend: Bearish

Trade scenario 1: Higher timeframes are bullish here on AU while the 4hour timeframe has been in a steady downtrend.

We can see price action near our 0.74000 support formed a descending triangle, which looks to be breaking bearishly now.

Look for a lower high below 0.74000 with strong bearish setups to enter on.

Trade scenario 2: For us to consider AU bullish again we need to see a break back above 0.74000 first.

The key to entering long here is structure. Look for a 4hour higher low above our most recent lower high.
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