UPDATE AUD/USD Almost hit take profit now final stretch SMC

Mar 20, 2023

AUDUSD formed a Rising Flag and broke below.
We then had price declining on a decent 45 degree slope showing the supply side was strong.
We had peripherals showing downside such as 21 >7 - Bearish RSI < 50 - Bearish
Target 0.6500

The target is still on as now there is a small Rising Pennant forming which we can expect to break to the downside.

SMC (Smart Money Concept)
Where the most recent low was you can see it is one of the strong levels of liquidity (supports). This formed an order block which swept shorters stop losses before going up. I think this upside is short lived and we'lll get one more push to the downside to sweep more liquidity which will get us out of the short.

However, it's not a bad idea to take some profits off the table and move stop to breakeven at this stage.