[m.youssif]

AUDUSD Forecast
The AUDUSD had a significant bearish momentum on Friday and slipped below 0.9885 today after failed to break above 1.0o20 resistance area. The bias is bearish in nearest term testing the double bottom formation around 0.9800 but note that we are still in consolidation phase and need a clear break below 0.9800 to continue the bearish scenario and re-activate my bearish mode targeting 0.9550 this week. On the upside, immediate resistance at 0.9915 (current high). Break above that area could lead us to neutral zone in nearest term and keep the double bottom bullish scenario intact re-testing 1.0020 area.

[m.youssif]

AUDUSD Forecast
The AUDUSD had a significant bearish momentum on Friday and slipped below 0.9885 today after failed to break above 1.0o20 resistance area. The bias is bearish in nearest term testing the double bottom formation around 0.9800 but note that we are still in consolidation phase and need a clear break below 0.9800 to continue the bearish scenario and re-activate my bearish mode targeting 0.9550 this week. On the upside, immediate resistance at 0.9915 (current high). Break above that area could lead us to neutral zone in nearest term and keep the double bottom bullish scenario intact re-testing 1.0020 area.