The AUDUSD has been suppressed for a while due to price momentum in favor of the USD. The Aussie presents a cross of opportunity to go long. On the daily time frame we see price swinging downwards within a channel since January 2018 while a butterfly pattern maybe present on the 4H time frame. A buy decision may represent a counter trend but both set up coincide with the Middle line of the channel around the 0.71900 level.
Trade active
Our pending order was filled. we now look to a Hawkish feedback from the RBA Statement and RBA Gov Lowe SpeeechTrade closed: stop reached
Trend reversed on the backdrop of a stronger Dollar
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.