Last week, we expected the Australian Dollar to reach the orange trendline. The price didn’t reach our target, as the price ranged the entire week. In the coming week, we anticipate the price to break the low one more time and start a reversal that could push the price towards the resistance area. This could be triggered by Tuesday’s RBA’s Interest Rate decision and possibly a hawkish statement. Trade with care.
Best regards, Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.