financialflagship

AUD/USD – Week 24 – Another drop expected.

Short
FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
Last week, we were expecting the Australian Dollar to reach the resistance level highlighted on the chart. Instead, the price didn’t gather enough momentum and started to depreciate.
In the coming week, we expect the price to continue to drop and hit the support level .
We recommend caution when trading this pair as we find ourselves in the middle of a complex consolidation pattern.
Trade with care.

Best regards,
Financial Flagship

Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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Comments

Yeah Smart Money sentiment has just gone negative on the Aussie so the outlook doesn't look bright. China belt tightening, China Trade China Tensions and a Dovish RBA don't support the Aussie climbing anytime soon, despite the fact the economy is slowing improving.
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financialflagship majicktrader
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