Due to the current strength of the Australian Dollar, we can expect continued bearish momentum toward equal lows at 1.59481. This is where the stop losses of long position traders are and the institutional traders may target this liquidity pool at 1.59481.
Further take profit areas are: 1.56787 and another equal low at 1.53323
Retail buyers may believe that price is at current support but due to the current trend, there is a good chance of continued bearish movement.
Look for selling opportunities in the Asian session and New York session near the current support area.
Further take profit areas are: 1.56787 and another equal low at 1.53323
Retail buyers may believe that price is at current support but due to the current trend, there is a good chance of continued bearish movement.
Look for selling opportunities in the Asian session and New York session near the current support area.