
Will the Australian pound resume its upward trend, or will we see the beginning of a downtrend
The Australian pound is moving in a clear, strong sideways trend,
on the daily frame, confined between supply and demand zones.
We currently have several possible scenarios for the pair.
The first scenario is a resumption of the uptrend,
in the event that the downward sub-trend shown on the chart is broken.
Then, we are expected to rise to the upper limit of the sideways movement,
located at the supply zones above.
The second scenario is a breakout of the demand zones and
a close below them, beginning the downtrend,
and a change in the overall trend direction.
The downtrend may extend to reach the demand zones below, at approximately 1.9920.
We are currently waiting to see which scenario the pair will move with.
After that, we will focus on either buying or selling.