themarketzone
Long

Two potential buy zones towards rate decision

FX:AUDUSD   Australian Dollar / U.S. Dollar
$AUDUSD failed to rally from the buy zone I mentioned in my previous analysis and decline below 0.715 till it met the uptrend line created by previous lows.

Two bullish scenarios I'm monitoring towards next week (notice RBA rate decision):
1. A close above the 50 SMA line - The price will remain above the uptrend line and will turn the 50 days MA to support
2. If the price will decline to re-test the previous lows, it may create an Aggressive C buy zone near 0.7 for a bearish 3 drives pattern (see potential R/R in the chart)

Tomer, The MarketZone
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