The AUDUSD has been on a killer uptrend lately, and we have managed to capitalize on the move a couple of times as bullish price action signals formed inline with the trend momentum.
Last session the market slammed into a weekly resistance level and the bears reacted aggressively. The AUDUSD lost a lot of ground as the weakness continued through the session into the new york close, where the candle finally close as a bearish outside candle.
If price can break the lows of the outside candle we could see more weakness in this market, if the bears push price down lower the mean value will need to hold as dynamic support for this trend to remain intact. Otherwise we could be looking at a trend changer here.