KeytoMarkets

The corrective A-B-C pattern yet to complete for AUSDUSD

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Before rebound to 0.7785 in today’s Asians session, the cross-tested and held the 20MA (month). The daily and weekly studies RSI and oscillator are remaining bearish

Early this week, the cross has broken below the parallel support 0.7712. After breaking the parallel support, we forecast two targets pointing to 0.7650 and 0.7620 its 100MA (weekly).As pointed on the below the A-B-C corrective pattern aiming at 0.7620.

The price has been retracing in a falling wedge pattern, near-term rebound could attract sellers between 0.7800-0.7900.
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