Like NZDUSD, AUDUSD has retraced significantly for the past one week.
An AB=CD formation is about to complete at a falling trendline based on a daily chart.
The dollar may weaken further, but there's a strong demand zone near 94 which may give the dollar a strong rebound, and that would probably cause AUDUSD, as well as NZDUSD, to drop fast as a result.
An AB=CD formation is about to complete at a falling trendline based on a daily chart.
The dollar may weaken further, but there's a strong demand zone near 94 which may give the dollar a strong rebound, and that would probably cause AUDUSD, as well as NZDUSD, to drop fast as a result.
Trade active
Short now.
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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.
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.