AUD/USD Selling Into Strength

2 min read
tarantula fx

tarantula fx

Head of Trading

Hi traders,

The AUD/USD is still bearish despite the rally to the upside. Construction numbers are low and the price should drop further.

Sellers in the AUD/USD can be seen between 0.7420-40 but also at 0.7410. Camarilla trend is bearish as daily pivot is below weekly and monthly pivots. If the selling momentum persists the price needs to drop below 0.7383 to continue further with bearish trend. If that happens targets are 0.7360-50 and 0.7320. If the price spikes above 0.7450 we could see a deeper rally towards 0.7490 zone.

Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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