justatrader

AUDUSD - Correction to the downtrend

FX:AUDUSD   Australian Dollar / U.S. Dollar
300 0 4
AUDUSD             is likely to show some correction to the downtrend. We know that the RBA expects the Aussie to be at 0.85, but that wasn't the case. The lowest price went after the comments was 0.88.

This analysis shows a possible long trade for the short term as well as a short trade after the correction is over.

As always, look to RSI and candlestick patterns for clues when price gets closer to 0.92 level.

Week ahead has the NFP data along with some key Aussie fundamentals.
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