Yesterday, the price of AUD/USD tried to rise and then rise. The trend is now bearish in 4 hours time frame. The strong resistance could be seen at the price level of 0.7848 I would be probably looking for short trades, as long as trend remains bearish. Bearish price action looks a bit strong and fast and price is going down. If bullish candlestick closes above 0.7848 critical resistance level then down trend is going to end. Hence, I might like to stay out of the market and re-examine the price chart.
