AUDUSD is currently in a downtrend hitting a support level. Here we believe price is probable to reverse back up towards the Minor Resistance level before continuing along it's bearish path towards S2.
Another very interesting pattern we have noticed is a MASSIVE "M" formation if you scroll out of the chart (Pink dotted line). If the M pattern plays out, price can go as low as S3.
Another very interesting pattern we have noticed is a MASSIVE "M" formation if you scroll out of the chart (Pink dotted line). If the M pattern plays out, price can go as low as S3.
Trade closed: target reached:
AUDUSD has made its bounce as predicted into the TP Zone
