Re-testing Sell Zone ahead of RBA rate decision

FX:AUDUSD   Australian Dollar/U.S. Dollar
7 months ago
The first time that $AUDUSD tested the 0.76-0.77 resistance zone (PRZ of a bearish Bat pattern) it dropped 300 pips only to find support near the daily 50 MA line.
Now, before RBA's rate decision, $AUDUSD is re-testing the same sell zone with potential rate cut scenario.
If RBA will cut rates (again), the first sell zone should be enough to send $AUDUSD back towards 0.74, 0.73 and maybe even towards 0.7 to complete a bullish Gartley pattern (yellow).

If they won't cut rates, $AUDUSD can rally towards 0.79-0.8 to enter the secondary Sell Zone - Completion of a bigger Gartley pattern

This trading scenario is part of this week's FREE newsletters - The Weekly Markets Analysis -
Read more and see what other trading scenarios I'm watching towards the coming trading week

Tomer, The MarketZone

Follow my blog -
Subscribe to my Youtube channel -
7 months ago
Comment: Updated analysis
Re-testing Sell Zone ahead of RBA rate decision
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out