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Jul 30 - 01:55 PM

AUD/USD - Rally Sellers Now Await Next Leg Of Bear Market

By Christopher Romano  —  Jul 30 - 01:18 PM
  • AUD/USD rally off July 21 low halts near 21-DMA, bear flag top on day chart

  • Pair falls sharply today, slips back below 10-DMA, nears bear flag base

  • Daily RSI turns down after oversold unwind, monthly RSI falls further

  • Break of bear flag base implies next leg of bear trend is beginning

  • Completion of bear flag suggests test of 38.2% Fib of 0.5510-0.8007 possible

  • Nov 2020 monthly low at 0.6990 targeted should that Fibo break

  • For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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