Last week we saw some dollar weakness. Looking at the USD index, I can see that there is a bullish trend line at play that has been touched at the US open, which will probably give USD pairs bullish momentum.
Looking at Aussie, a new LH has been printed, or so it seems. We had a HUGE psychological level which Aussie failed to break, which was .70000 with 3 significant daily wicks touching that level.
7 & 8 March daily candles seem to have acted as a resistance level with the current daily candle which seems as if it will close as a bearish engulfing candle, unless a major bullish move occurs. Daily Fib starting at spike of 7 May is also in play.
Looking at Aussie, a new LH has been printed, or so it seems. We had a HUGE psychological level which Aussie failed to break, which was .70000 with 3 significant daily wicks touching that level.
7 & 8 March daily candles seem to have acted as a resistance level with the current daily candle which seems as if it will close as a bearish engulfing candle, unless a major bullish move occurs. Daily Fib starting at spike of 7 May is also in play.