(AUD | USD) Forex Trading Analysis Today Forex Forecast | July 18, 2023 | AUDUSD Analysis

Forex Trading Analysis

I am going to analyze the AUD USD currency pair let us start the top-to-bottom Elite wave analysis inside the daily time frame the trend is down in AUD USD currency pair daily time frame resistance is present at 0.69 20 price level price action is most likely going to drop to print bearish with Y doubles exact leg incoming trading days a decisive bullish breakout above 0.69 20 resistance area is going to end downtrend in the daily chart of AUD USD currency pair next

let us take out look at our time frame price action is printing higher swing highs and higher swing lows to me AUD USD pair

The trend looks up in 4-hour time frame next let us take a look at one-hour time frame the trend is down in one-hour chart intraday resistance is present at 0.68 94 price level price action is most likely going to rise to print bullish wave B pull back after that I expect bearish wave sees exact corrective leg which offers a chance to join the downtrend in AUD USD pair a decisive bullish breakout above 0.6894 resistance level is going to end downtrend in one hour chart of the Australian dollar versus United States dollar currency pair to be more specific the red color highlighted area offers the selling opportunity which is the previous third wave of unless a degree take notes you must always trade with money management rules to control risk