Currently, there is a corrective movement on AUD/USD. Near the local offer zone of 0.79550-0.79850, a number of classic patterns of Price Action, Pin Bar and Outside Bar, (H1 timeframe) was formed. These formations signal a further correction on the AUD/USD currency pair.
If the price fixes below the round level of 0.79000, we recommend you to look for entry points to the market to open short positions. The movement is tending potentially to the "mirror" support level of 0.78350. When tracking a position, one should use a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account