AUDUSD broke the last monthly correction trend line of the downtrend, but failed to create a Monthly Bullish pattern. Therefore, we expect to complete the correcction and return to the downtrend.
As you can see from the chart on the left, the current downtrend is a small 4-hour downtrend. Once the 4-hour downtrend is broken, a weekly uptrend may appear starting with the 4-hour Bullish pattern. If that happens, July could rise to a position where it could create a new monthly correction trend line.
As you can see from the chart on the left, the current downtrend is a small 4-hour downtrend. Once the 4-hour downtrend is broken, a weekly uptrend may appear starting with the 4-hour Bullish pattern. If that happens, July could rise to a position where it could create a new monthly correction trend line.