nevertrmoon

AUD daily chart seems bearish

FX:AUDUSD   Australian Dollar/U.S. Dollar
43 1 4


Short at 0.7510
target 0.7390
stop 0.7570

The AUD begun a uptrend since June, because of the hawish tone of RBA,the reduced space of another rate cut;and it continued to go up by 2 months, until 8-11,found a strong resistance,which is the downtrend line from 5,11 last year,and it's not easy to break.

After Yellen's speech,we can find the AUD break daily support aroud 0.7560-70, and confirmed that by another down candle.It will not change the direction until the FED becomes dovish.MAYBE it will continue to go down,find a support at 0.7380-90,which is the crossover of the daily chart uptrend line and 200MA, and if it were like this, the time seems to be mid-September,at that moment the FED will give market the answer,whether to hike or not.

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