AUDUSD appears to be in it's next leg down - racing towards 200 EMA target of at least .7515 and possibly has ltos of room for further downside after that...
Trade active
AUDUSD Hourly Chart: Trade active
Target of 200 EMA on Daily chart about to be met. Took partial profits and moved SL to profit zone.Was a turbulant ride down, however, it was somehow bound to come down. Was in a slight upward channel for a while.
Has more downside to go - trade with caution..
Note
Trade closed manually
AUDUSD did go down in 2 trend-line channels, however the bigger move upwards came up after the US Fed interest rate decision.Even though the interest rate was increased, USD weakened due to a dovish comment/tone by Yellen/Fed..
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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.