AUDUSD: Approaching August 21 lows and bottom of channel
AUDUSD is falling towards the 0.7100-15 area where the bottom of the channel that contains the move from October highs and the lows of last August coincide. The extreme RSI levels are sowing that a reaction is possible from these levels but a new low will be made as there is a lack of divergence...
We will BUY at these levels setting the stops below 0.7070, targeting 0.7135-45 area.
We will use any pullback towards resistance for sell positions.
We will BUY at these levels setting the stops below 0.7070, targeting 0.7135-45 area.
We will use any pullback towards resistance for sell positions.