- Bulls failing at critical daily resistance near 0.7540.
- A break of H4 support will open the risk of distribution towards the daily target.
As per the prior analysis of March 31, AUD/USD Price Analysis: Bears prowl and are moving in with 0.7450 eyed, the bears are holding off the bulls and the bias remains with the downside.
AUD/USD prior analysis
AUD/USD live market
As illustrated, there is a build-up of failures at daily resistance and the prospects for a move to the downside to correct the prior bullish impulse are fortified by the subsequent price action on the 4-hour chart as follows:
AUD/USD H4 chart
A break of support will open the risk of distribution towards the daily target.
This article was originally published by Fxstreet.com.Read the original article here.
