• This point is crucial for bears and bears will notice the resistance.

The AUD/USD is pressed against a significant resistance on the longer-term charts. At this point, the bears may be looking to move in. The 4-hour chart analysis shows the key levels.

AUD/USD before analysis

This price was in line with the 21 EMA and support structure. Bulls would have sought to engage at a discounted rate at this juncture.

Weekly chart AUD/USD

The weekly chart showed that the bears had taken note of resistance, which makes the price more vulnerable for the coming days.

Live market AUD/USD

As predicted in the analysis, the price actually retraced the support and rallied from that point. Now, the big bearish candle is the main focus. The price has been capped by a 38.2% Fibo Retracement of the bearish impulse.

For a restest near 0.7150, the focus should be on the downside. Below that level, bears might be encouraged to shift to longer-term charts to assess the landscape.
The chart below shows the possible price direction, 0.7150. A break of this chart will expose the possibility of a longer-term shift in the price's trajectory.