AUD/USD – Week 5 – Consolidation not over yet.
Updated
Our technical perspective for AUDUSD points out that another red week is approaching for the Australian Dollar, as we expect the consolidation that started in the past couple of weeks to continue. At the moment, because we are forming a complex pattern, we expect the price to move in zig-zags until the structure is completed.
Take notice that on Tuesday the Reserve Bank of Australia will release the data regarding the interest rate, followed by a policy statement that could cause some volatility on the market.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Take notice that on Tuesday the Reserve Bank of Australia will release the data regarding the interest rate, followed by a policy statement that could cause some volatility on the market.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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