The Australian dollar broke the support area 0.67500 and turned into a resistance area, and the price is currently concentrating around this area, and we diversify from it as a bearish retracement with the general bearish trend.
Over the four-hour frame, the price forms the idea of an ascending channel in green, and the price is currently concentrating around the upper trend area of the channel, which is an overbought area, and from which we expect a bearish rebound.
On the half-hour time frame, the price forms a bullish sub-trend line in red, correct and objective, based on three bottoms. We are waiting for the last bottom-down break to activate a selling opportunity, with another supporter of the selling idea, which is the divergences on the MACD indicator.
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Your brother Ahmed
