By Martin Miller — Oct 15 - 06:45 AM
AUD/USD on Monday broke but failed above the kijun line, currently at 0.6783
The kijun line is the midpoint of the last twenty-six trading days
That is a likely "bull-trap", which is usually a bearish sign
Bull trap: set when a market breaks above a tech level but then reverses
Despite the "bull trap", bears beware of continued trading above the cloud
The daily cloud currently spans the 0.6586-0.6690 region
AUD/USD Trader TGM2347. Previous update nL1N3LQ07H
Source:
Refinitiv IFR Research/Market Commentary