AUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right...
Here we can see heavy rejection at the major weekly trendline.
- RSI divergence can be seen with formation of a possible LOWER HIGH
- Bounce from trendline resistance also aligning with key fib level
- Short on break and retest CTL
- Price is currently ranging within triangle