AUDUSD showing bearish triangle in downtrend

1 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

2015-07-13_14-02-06

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.

Follow @TarantulaFX on twitter for latest market updates

 

read the original article on AdmiralMarkets.com

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of