![Technical Analysis for AUDUSD - monthly bearish breakdown with 0.7560 support level Technical Analysis for AUDUSD - monthly bearish breakdown with 0.7560 support level](https://c.mql5.com/6/542/splash-530570.png)
Technical Analysis for AUDUSD - monthly bearish breakdown with 0.7560 support level
![Sergey Golubev Sergey Golubev](https://c.mql5.com/avatar/2012/12/50D09349-3D90.jpg)
- Tenkan-sen line is below Kijun-sen line of Ichimoku
indicator on W1 timeframe with 0.7532 support level and 0.7937 resistance level to be ranging within the primary bearish market condition on W1 timeframe.
- AbsoluteStrength indicator and TrendStrength indicators are showing the ranging market condition started in the beginning of Marck for weekly price.
- “AUDUSD continues to trade between well-defined slope lines but beware of a possible broadening bottom (very difficult pattern to trade).”
- “Trade outside of the bearish upper parallel that has contained strength since late October would shift focus to a former support line (turned resistance in January) near .8180.” AUDUSD is pressing the mentioned upper parallel now…it’s decision time for AUDUSD".
- Chinkou Span line is located to be far from the price for any good possible breakout or breakdown on the near future.
Trend:
- H4 - ranging bullish
- D1 - ranging
- W1 - ranging bearish
- MN1 - bearish breakdown