Forex

AUDUSD showing bearish triangle in downtrend

July 13, 2015

1 min read

tarantula fx

Head of Trading

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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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read the original article on AdmiralMarkets.com

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