• 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.

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