AUDUSD
AUDUSD closed @ 10515 which was BELOW the open and was within prior day’s trading range. The High was 30 pips from Precise Trader’s Res Zone 1 and the Low was 15 pips from Precise Trader’s Sup Tgt 2.
The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 10640 holds and Daily Trend is also Sideways while 10365 holds, so expect the Price to be Choppy until the Breakout.
The Daily Closed below the Open but within the Range. The Patterns are suggesting a Range trading with a limited Downside but Cautious approach is needed. The Hourly looks like the Bears may attempt the 10465-35/10390 levels and must protect the 10565/10615 levels at all times. The 15min is suggesting a break of 10485 is needed for the Bears. The Opening Price Principle suggests that the Bears are in control in the near term while the 10575 level holds, so trade with the PT strategy when the Price breaks out of Zone 2 levels.
BULLS: 10465 10415 10365 BEARS: 10565 10615 10665
Today’s Strategies: SHORT near 10535 10565 with a tight stop with a 35-50 pips price target.
