Currency Pair Update - Pair AUDUSD

Financial Planner • May 28, 2017 at 11:15 PM EDT

Price has made a lower low and lower high indicating “downtrend”. There is “bearish flag pattern” formed inside the channel.

Update for Currency Traders

Short Term View

On Daily chart – Price has made a lower low and lower high indicating “downtrend”. There is “bearish flag pattern” formed inside the channel. There is a “hidden negative divergence” also formed. So my view is “Bearish” expecting the price to retrace to 0.725 – 0.715 range. Below is the Daily chart for the reference.

Long Term View

On Weekly chart – Price has made an “Inverse Head & Shoulder Pattern”and after breaking the neckline upwards, It is coming down to retest the neckline again. So my view is “Bullish”. Buy on Dips around 0.725-0.715 range for a Target of 0.82-0.85 levels. Below is the weekly chart for the reference.

Disclaimer:

The above views are only for educational purposes. Equity & commodity trading has large potential rewards, but also large potential risks. You must be aware of these risks and be willing to accept them in order to invest in the markets. Don't trade with money you can't afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.

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