jamsterfd

Is the Bearish Butterfly taking over – a medium term look at AUD

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
34 views
1
The AUDUSD rate has been declining since the middle of March towards point D but this has been interrupted by a short bounce and retracement which is creating a new possible harmonic pattern in the form of a bearish butterfly . If by the end of trading over the next couple of days, the price continues to drop to around the 0.75006 level we could see a possible reversal back up the new C-D line.