AUDUSD 1hour Analysis January 25th, 2021
Price is rejecting off our key structure zone and 30min 200MA.
Trade Scenario 1: Bearish - For us to go short we would like to see price continue to the downside below .7710. We will then wait for a retest and for .7710 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we want to see price break above our key structure zone of .7740. We will then wait for a retrace and for .7740 to flip as support.
Trade Scenario 1: Bearish - For us to go short we would like to see price continue to the downside below .7710. We will then wait for a retest and for .7710 to flip as resistance. Enter on strong bearish setups.
Trade Scenario 2: Bullish - For us to go long we want to see price break above our key structure zone of .7740. We will then wait for a retrace and for .7740 to flip as support.
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