Currency Pair : AUDUSD

Current Price : 0.7426

Status : On watch for lower high and push lower for Long Squeeze

The AUDUSD has dragged in the buyers since the recent lows at 0.7335 and is in a prime position to build a major lower high for continuation down to 0.7155. We see that the Buyers are outweighing the Sellers so there is potential fuel for a Long Squeeze to push the Aussie lower. If price pushes up through 0.7464, then we will have to re-assess the price action. Now its down to the lower timeframe charts for the sell entry setup.