AUDUSD - 10 March 2022

It doesn't matter price wants to continue to put in a new inner daily HH or to give a deeper pullback to the daily demand zone below, at this point, price is now forming the pullback after the most recent bullish impulse move. If price wants to continue lower, as we are reacting off a 4H major demand, we expect a major pullback which is to at least sweep some BSL to refuel the momentum, in this case the structural LQ from the left is the best, price could sweep and mitigates the B2S range then continue lower.

As there is no significant momentum changed (No significant bearish impulsive move found), the most recent impulse and the prevailing momentum is still consider bullish. Therefore, I expect price to go higher at least to put in a new 1H HH or to pullback to the larger B2S range which above the structural LQ.

My bias is now favoring Long until we take out the LQ from the left and mitigates the B2S range.