Aussie rejected of descending slope.

Short

Australian Dollar / U.S. Dollar (FX:AUDUSD)

Updated

FX:AUDUSD Australian Dollar / U.S. Dollar

Trend Analysis Chart Patterns

trendanalysis chartpattern

Australian Dollar bounced of the descending channel, now makes a pull back. Great entry point, with stop above recent high. Entry point between .70031 - .7030.

Comment:

After a closer look of the recent monthly price action, someone could also argue that we made a bottom. A daily close above 2019 open would confirm this (IMHO)

Daily Chart

snapshot

4-Hourly Chart

snapshot

Trade closed manually:

I do not like the price action and the fact the DXY is making a new LH.

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