The AUD/USD still mega bearish despite bouncing last Friday.
Short-term however we may be looking at some strength off these lows
There is significant resistance at 0.6868 and 0.6985
Potentially a good 100 pips when going long at the current level of 0.6841
At 0.6985 I will positively look to be short especially with the falling trend-line
coming in round these levels
There is a Flag structure at the 4 hrs chart which may strengthen the case
for about 100 pips.
Short-term however we may be looking at some strength off these lows
There is significant resistance at 0.6868 and 0.6985
Potentially a good 100 pips when going long at the current level of 0.6841
At 0.6985 I will positively look to be short especially with the falling trend-line
coming in round these levels
There is a Flag structure at the 4 hrs chart which may strengthen the case
for about 100 pips.
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