This is a chart I'm interested in. The AUDUSD
pair has formed a rather convincing Bullish
Outside Bar, off the 0.92 support level
. Last time it reached this level it formed a nice looking pin bar
, possibly suggesting a period of consolidation for this pair. What's more, it's interesting that despite the lower trade volume
which takes place on Fridays, the pair still managed to close above the 0.93 level. What's against this trade however is the short term divergence displaying on MACD
, suggesting that any consolidation, if any, may be short-lived. I still think there is a good chance this pair could test near the 0.94 level, lets see!