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LeonSprey12

AUDUSD Wyckoff Pattern of Distribution

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
LeonSprey12  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Fundamental Analysis Chart Patterns
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trendanalysis fundamental chartpattern
The price action of the AUDUSD has exhibited a Wyckoff Distribution pattern throughout April and into May. Presently, the price is in a pronounced downtrend, with the expectation that it will continue to decline until reaching the Order Block approximately at 0.65900. There is a possibility for further downside movement beyond that level.
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