(AUD | USD) Forex Trading Analysis Today Forex Forecast | May 01, 2024 | AUDUSD Analysis

Forex Trading Analysis

Today is Wednesday my first 2024 I am going to analyze the AUDUSD currency pair let start the top-to-bottom AT wave analysis inside the daily time frame the trend is down in AUDUSD currency here daily time frame resistance is present at 0.6727 price level price action is most likely going to move sideways and then rise more to complete bullish wave B pullback and then drop to print bearish wave SE exact corrective leg incoming trading days a decisive bullish breakout above 0.6727 resistance area is going to end down Trend in the daily chart of AUDUSD currency pair

At 4 hour time frame price action manages to break below the most recent string low to me AUD USD pair Trend looks sideways in the 4hour time frame

At 1 one-hour time frame the trend is down in 1-hour chart in our day resistance is present at 0.65 85 price level price action is most likely going to rise to print bullish wave X pull back and then drop to print bearish Wave Y double zigzag leg which offers a chance to join the downtrend in AUD USD pair a decisive bullish breakout above 0.6585 resistance level is going to end the down Trend in 1-hour chart of the Australian dollar versus the United States dollar currency pair

More specific the red color highlighted area offers a selling opportunity which is the previous fourth wave one lesser degree