AUDUSD finally broke support and closed the week with an RSD. It should continue down and finish a correction. The first area I'll be watching is around the 50% line at 0.6718. Once it turns back up I'll add long. 
Trade active
Long from 6930 to test for a breakout up out of the zone (jail) it's been in for 2 weeks. Trade active
Short term could go either way. Still stuck in a range. Staying long, will add if it does break out the bottom and go for the 67s or so. Trade active
Flat for the weekend, but probably entering long Sun. night. The pair is still in jail (a 210 pip range for several weeks) but drifted up towards the top through the week. I expect a head fake up, possibly back to .70s, before a dive towards the 50% line. It may get turned around the 3/8 and head back up on trend. Trade active
expect a correction, but so far it's staying in this rising wedge. If it bounces off the lower channel line it should make a good long with reasonable SLs or sell stops below the channel. Trade active
From the 50% line up AU is looking like a giant bear flag. Question is: when will it drop out of the current rising wedge that's been forming for a few weeks now? It could easily continue to ping pong in the channel (close to 200 pips) since the current up trend is very strong, but I'd have sell stops below waiting for a break. 
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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.