AUD/USD - Week 53 - Down move expected

The Australian dollar moved slowly on Thursday before heading into the Christmas holiday. The market looks likely to start a deeper downside consolidation. As you can see in the chart, the price strongly broke the channel without breaching the trendline, which would have been a better confirmation for the move that we expect. At the moment it looks like it is forming a small price accumulation to continue to go down.
Trade safe & a Happy New Year!

Best regards,
Financial Flagship

Disclaimer: The analysis provided is just informal and it should not be used as financial advice. Remember that you need a plan before you start trading; so take this as your guide that will ultimately help you understand the market and easily predict your next move.

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