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Long

AUDUSD: ABCD in Development

FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
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15
AUDUSD worked the classic pullback after reaching the first target to swing. The formation of the butterfly sell detected for the past several days, is working correctly and the dynamic pressure is still facing upward.
To help a possible strengthening of the Australian currency, there was the maneuver of China to support its economy.
From the technical point of view, maintaining 61.8 (end of day), confirms the possibility to return to work the maximum swing around 0.7890. AUDUSD is working at this time a sensitive area, between the WPP and the MPP, and out of this trading range confirms the dynamics of swing.
If we look at the main correlation with the gold , we realize that the yellow metal is consolidating the last bearish swing.

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