AUD/USD Huge Bearish Trend Playing Out

2 min read
tarantula fx

tarantula fx

Head of Trading

Dear Traders,

The AUD/USD is trying to break the lower support zone. At this point we see that the price is rejecting the interim resistance.

W L3 is the first pivot where we can see the resistance. The 0.6020 zone is used by the short traders to further drop the price lower. If the pair retraces then watch for 0.6125-50 for another rejection. Targets are 0.5950 followed by 0.5920 and 0.5870. As long as the price is below M L5 camarilla, the AUD/USD will be dropping like a stone.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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