AUD/USD Price Analysis: Bulls run up to a wall of H4 resistance

AUD/USD has been moving in on the higher liquidity mid-week.
Bears need a break below 0.7190 for downside prospects.

Ross J Burland FXStreet

As per the start of the week's analysis, AUD/USD Price Analysis: Bears moving in, eyes for restest of H1 lows, the price is moving in on higher liquidity as follows:

Prior analysis, AUD/USD H4 chart

In the above chart from yesterday, the liquidity near the 61.8% ratio was identified and has been tested in price action today as follows:

The W-formation might be expected to pull in the price to the neckline and if the bears take over there, then the downside will be to play for.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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