AUDUSD showing bearish triangle in downtrend

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading


AUDUSD has been consolidating below 0.7500 and traders definitely don’t want to fight back with RBA governor’s Stevens comments that the AUD currency is still overbought.0.7470 is showing a good POC ( now moment sellers, 61.8, descending trend line) If 0.7500-10 holds we could see a drop to 0.7400 followed by 0.7350 and 0.7280. However we need to see a break of lower TL (green dotted TL) and L3 -0.7400 to the downside for further bearish momentum.

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